Shearman & Sterling is advising Salesforce.com, inc. on its definitive agreement with Demandware, Inc. to acquire Demandware in a transaction worth approximately $2.8 billion (net of cash acquired). Under the terms of the agreement, salesforce will commence a tender offer for all outstanding shares of Demandware for $75.00 per share, in cash.
The transaction is expected to close in the second quarter of Salesforce’s fiscal year 2017, ending July 31, 2016, subject to the satisfaction of customary closing conditions.
Salesforce is a global leader in customer relationship management (CRM) and the fastest growing top 10 software company in the world. Demandware is the pioneer of an industry-leading cloud platform that is the digital backbone for hundreds of retail brands around the world.
The Shearman and Sterling team includes partners Steve Camahort, Michael Dorf (both San Francisco-Mergers & Acquisitions), Jordan Altman (New York-Intellectual Property Transactions), Doreen Lilienfeld (New York-Compensation, Governance & ERISA), Matthew Berkowitz (New York-Litigation), Larry Crouch (Menlo Park-Tax), Beau Buffier (New York-Antitrust) and Gus Atiyah (Washington, DC-Finance); counsel Nathan Wood (Menlo Park-Finance), Robert LaRussa (Washington, DC-Litigation) and Kelly Karapetyan (New York-Antitrust); and associates Scott Mollett, Kirill Levashov, Yoav Simchoni (all San Francisco-Mergers & Acquisitions), JB Betker, Mark Pereira (both New York-Intellectual Property Transactions), David Ling, Matthew Weston (both New York-Compensation, Governance & ERISA), Ryan Bray (Menlo Park-Tax), Mikael Abye (San Francisco-Litigation) and Joseph Purcell (New York-Litigation).