Cloud computing industry giant Salesforce announced on Tuesday (September 3) that it has agreed to acquire Tenyx, which develops artificial intelligence voice agents, to advance its AI driven solutions.
The acquisition did not disclose the transaction value and is expected to be completed in the third quarter. As part of the acquisition, Itamar Arel, co-founder and CEO of Tenyx, and Adam Earle, Chief Technology Officer, along with their team, will join Salesforce.
Tenyx is a California based startup founded in 2022. Its website shows that the company's clients come from various industries, including e-commerce, healthcare, hotels, and tourism.
AI talent competition
For many years, Salesforce has maintained a rapid development momentum and has grown into a giant in the cloud computing industry through acquisitions, innovation, and establishing good partnerships. However, last year was a difficult year for this cloud computing giant, with revenue facing a slowdown.
Under pressure from radical investors, Salesforce implemented measures such as layoffs, dissolution of its merger and acquisition committee, and doubling its stock buyback scale last year to significantly enhance its profitability.
Last week, Salesforce announced that its revenue and profit for the second quarter ending on July 31st exceeded Wall Street's expectations, thanks to an increase in its subscription and support business for its enterprise cloud products. Currently, the company is once again seeking acquisitions to accelerate its revenue growth.
This move echoes similar deals reached by tech giants Microsoft and Amazon with artificial intelligence startups this year, highlighting the increasingly fierce competition among large enterprises for AI tools and talent.
In March of this year, Microsoft spent $650 million to poach talent from artificial intelligence startup Reflection; In June of this year, Amazon also invested in acquiring several co founders and team members of another artificial intelligence startup, Adept.