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The Wall Street Journal: Salesforce buys collaboration-software maker Quip for $582 million

Salesforce.com Inc. will acquire productivity software maker Quip Inc. for about $582 million in stock, Salesforce said Monday in a corporate filing.

Salesforce said in the filing that the purchase price excludes a previous investment by Salesforce Ventures, which is undisclosed.

To Salesforce’s online sales and marketing services, the deal will add programs for creating documents and spreadsheets. Quip’s products, which are designed for collaboration using mobile devices, compete with Microsoft Corp.’s MSFT, -0.18% Office and Alphabet Inc.’s GOOGL, +1.21% Google Docs as well as apps from a variety of smaller companies.

“As part of Salesforce, we will be able to expand our service more quickly and reach millions of people all over the world,” wrote Quip founder Bret Taylor in a blog post.

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