Salesforce is to acquire word processing and collaboration app maker Quip in a deal worth around $582 million.
Quip’s cloud-based platform is designed to edit documents and spreadsheets on mobile devices, wearables and desktops, and competes with Microsoft’s Office and Google docs, as well as similar apps from smaller companies.
Co-founded by former Facebook CTO Bret Taylor and ex Google executive Kevin Gibbs, it has previously raised $45 million in funding, with Salesforce an existing investor.
In a blog post, Taylor said the deal will help Quip expand its services more quickly, and the company will reportedly operate independently.
Taylor and Gibbs will also stay on post acquisition, according to TechCrunch.
“We’re inspired by the possibilities ahead of us. As part of Salesforce, we will be able to expand our service more quickly and reach millions of people all over the world — which has been our mission since day one,” said Taylor.
Salesforce was reported to have lost out in a bidding war for LinkedIn to Microsoft, which ended up at $26.2 billion.