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Cloud computing firm Salesforce to buy MuleSoft for $6.5B

Cloud computing company Inc. said March 20 it agreed to acquire MuleSoft Inc. for about $6.5 billion a year after the target went public.

Under the deal, Salesforce will pay $44.89 per share for MuleSoft, or $36 in cash and 0.0711 share of Salesforce common stock.

The price represents a 36% premium over the software provider's closing share price on March 19, Salesforce said.

The transaction, which was announced after reports that the two companies were in advanced merger talks, is expected to close by July 31.

MuleSoft, which makes integration software that connects applications, data and devices, has more than 1,200 customers, including Coca-Cola Co., Barclays PLC and Unilever PLC. It went public on March 17, 2017.