(Bloomberg) -- Salesforce Inc. spent $344 million to buy data management startup Zoomin Software Ltd. last month, a previously undisclosed sum that underscores the company’s new approach to dealmaking.
The expense for outstanding shares of Zoomin was disclosed in a filing on Wednesday. Salesforce had previously invested in the company, and already owned less than 10% of the outstanding shares. When the deal was first announced in September, the terms were not disclosed.
The software giant was once known for making massive acquisitions of companies like Slack Technologies Inc. But following pressure from investors early last year, Salesforce has said it would take a more prudent approach to mergers.
Zoomin is a tool that ingests and accesses unstructured data for uses like analytics and artificial intelligence. Salesforce has said the deal will help bolster its Data Cloud product, which has been a major growth bet this year.
Also in September, Salesforce announced the acquisition of another data-focused startup, Own, for $1.9 billion, which was its largest-disclosed deal since Slack. After that transaction closed last month, Own workers were told that some roles would be eliminated.
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