Salesforce buys AI voice agent firm to enhance CX offerings
Salesforce, a leading enterprise cloud company, has announced its intention to acquire Tenyx. The latter is known for developing artificial intelligence (AI)-powered voice agents. This strategic acquisition aims to bolster Salesforce's AI-driven solutions portfolio and enchance its customer experience (CX) offerings. The deal is projected to be finalized in the third quarter of this year, although the financial details remain undisclosed.
Tenyx's leadership and team to join Salesforce
As part of the acquisition, Tenyx's leadership including co-founders CEO Itamar Arel and CTO Adam Earle, will be integrated into Salesforce. The rest of the team from the California-based start-up, established in 2022, will also join Salesforce. Tenyx has a diverse client base spanning multiple sectors such as e-commerce, healthcare, hospitality, and travel.
Salesforce's strategic shift toward acquisitions
The acquisition of Tenyx marks a strategic shift for Salesforce, which had previously announced plans to double its share buybacks and limit further acquisitions. This change was prompted by activist investors and led to the dissolution of its mergers and acquisitions committee. Now, the San Francisco-based company is refocusing on acquisitions as a means to reinvigorate its revenue growth.
Salesforce's move mirrors tech giants' AI acquisition trend
Salesforce's acquisition of Tenyx aligns with a broader industry trend, where tech giants like Microsoft and Amazon have also made significant acquisitions this year. These moves underscore the escalating competition for AI tools and talent in the tech sector. In March, Microsoft spent $650 million to acquire talent from AI start-up Inflection while Amazon recruited several co-founders and employees from AI start-up Adept in June.
