March 20 (UPI) -- Cloud computing company Salesforce announced an agreement Tuesday to acquire software company MuleSoft in a $6.5 billion merger.
Salesforce will pay $44.89 per share for MuleSoft, a 36 precent premium over MuleSoft's closing share price on Monday, and each Mulesoft share will equal $36 in cash and 0.0711 shares of Salesforce common stock.
The deal is expected to close July 31 when MuleSoft will power the new Salesforce Integration Cloud allowing enterprises to unite data across different cloud products.
"Together, Salesforce and MuleSoft will enable customers to connect all of the information throughout their enterprise across all public and private clouds and data sources -- radically enhancing innovation. I am thrilled to welcome MuleSoft to the Salesforce Ohana," Salesforce CEO Marc Benioff said.
Salesforce will also gain access to MuleSoft's more than 1,200 customers including Coca-Cola, Barclays, Unilever and Mount Sinai.
"With the full power of Salesforce behind us, we have a tremendous opportunity to realize our vision of the application network even faster and at scale," MuleSoft CEO Greg Schott said.