SAN FRANCISCO — Microsoft decided not to buy Salesforce because the price was too high, according to the San Francisco Business Times which cites CNBC reports.
Bloomberg News said on April 29 that Microsoft was considering making an offer for Salesforce and the companies actually began negotiations. The talks faltered because Salesforce CEO Marc Benioff wanted $70 billion for the company, while Microsoft was only willing to come up with $55 billion, according to “sources familiar with the situation.”
Salesforce (NYSE:CRM) is San Francisco’s largest technology employer with 16,000 people on its rolls, a quarter of them in San Francisco.
Salesforce shares saw a 2 percent rise Friday to $74.46. The stock rose nearly 45 percent during the last year.