Salesforce Acquires Tenyx

(Reuters) – Enterprise cloud firm Salesforce (NYSE:CRM) announced on Tuesday that it has agreed to acquire Tenyx, a company that develops AI-powered voice agents, to enhance its AI-driven solutions.

The deal’s financial terms remain undisclosed but is anticipated to finalize in the third quarter. Tenyx’s co-founders, CEO Itamar Arel and CTO Adam Earle, along with their team, will transition to Salesforce.

Founded in 2022 and based in California, Tenyx serves a range of clients across industries including e-commerce, healthcare, hospitality, and travel, as stated on its website.

Last year, Salesforce faced pressure from activist investors, prompting it to announce plans to double its share buybacks and retreat from making further acquisitions after dissolving its mergers and acquisitions committee.

Currently, the San Francisco-based company is revisiting acquisitions to bolster its revenue growth. This strategy reflects similar moves made by tech giants Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN) in 2023, underscoring the rising competition for AI tools and talent.

In March, Microsoft acquired talent from AI startup Inflection for $650 million, while Amazon brought on several co-founders and employees from Adept, another AI startup, in June.

Salesforce recently exceeded Wall Street expectations for second-quarter revenue and profit, attributing its success to increased investment in its enterprise cloud products.