Salesforce has confirmed that it has reached a definitive agreement to acquire Tenyx.
The deal, set to close in 2025, will see Salesforce integrate Tenyx’s Voice AI technology to enhance its existing offering.
This will include leveraging Tenyx’s service-use-case-specific features to improve Salesforce’s autonomous agent capabilities for its Agentforce Service Agent and Service Cloud, as well as helping to advance the vendor’s overall AI-driven solutions.
Salesforce believes that the addition of Tenyx’s innovations will allow the company to “set new standards” in customer experience, and enable users to provide a more “intuitive” and “seamless” customer service.
In a statement released by Salesforce, the company praised Tenyx’s AI capabilities:
Salesforce’s acquisition of Tenyx underscores its commitment to revolutionizing customer service through AI, reflecting its dedication to delivering next-generation customer service solutions.
The vendor also confirmed that as part of the deal Tenyx’s Co-Founders, CEO Itamar Arel and CTO Adam Earle, along with their team, will join Salesforce once the acquisition is finalized.
So, let’s take a closer look at Tenyx’s tech.
Spilling the Tea on Tenyx
Founders Arel and Earle started the company in California in 2022, having previously worked together at IBM and McD Tech Labs, with the Tenyx team also boasting veterans from the likes of Google, Apple, Amazon, and even Salesforce.
Tenyx specializes in AI and machine learning, deploying this tech to build voice agents that enhance customer service across industries like e-commerce, healthcare, hospitality, and travel.
The tech firm believes that its offerings are able to combat the traditional IVR shortcomings of failing to understand customer intent, leading to more agent calls.
It also claims that its solutions can deliver on the promise of enhancing CX, scalability, and efficiency, which current call center solutions have failed to do.
In an official message posted on the Tenyx website, the company expressed its pride and excitement with the deal:
“We are thrilled to announce that Tenyx has signed a definitive agreement to be acquired by Salesforce, the number one AI CRM.
This exciting development marks a new chapter for Tenyx as we continue our mission to deliver human-like voice AI solutions that enrich the way enterprise companies engage with their customers.
“We are proud to become part of the Salesforce family and look forward to the incredible opportunities this partnership will bring. Stay tuned for further updates as we move forward with this exciting new chapter.”
A Byproduct of Salesforce’s New M&A Strategy?
During an earnings call earlier this summer, Salesforce Chairman and CEO Marc Benioff, provided some insights on the company’s new mergers and acquisitions (M&A) strategy.
Benioff confirmed that Salesforce will continue pursuing strategic acquisitions but emphasized that any deals will align with the company’s M&A framework.
This approach, which Salesforce credits for its M&A success, focuses on acquiring companies with best-in-class assets, a clear timeline for value accretion, and a strong balance sheet.
As an example, the CEO highlighted the recent acquisition of Spiff, a compensation management software provider, as the type of deal Salesforce is targeting.
“Products that we acquired, many of them at the multi-hundred-million-dollar revenue level, are now at the multi-billion-dollar revenue level,” Benioff explained.
Some of the largest, most important software companies in the market today are actually companies that we acquired at much smaller levels.
As a successful, young company with an innovative tech solution, Tenyx looks tailormade for the sorts of acquisitions that Salesforce is currently prioritizing.
More News from Salesforce
The Tenyx deal is the second acquisition announced by Salesforce in the last month, having also agreed to purchase PredictSpring, a leading POS software vendor known for its omnichannel commerce platform.
PredictSpring’s modern POS solution, designed for fast and customer-centric checkouts, is expected to complement Salesforce’s Customer 360 capabilities and enhance its presence in physical retail stores.
The platform enables retailers to offer in-store experiences similar to online shopping, with features like unified payment options, inventory access, customer data management, and personalized recommendations.
Salesforce sees this acquisition as a way to boost in-store operational efficiency and broaden its technology’s reach.
Elsewhere, away from acquisitions, Benioff made headlines for criticizing the performance of Microsoft Copilot in customer experience environments.
The CEO claimed that “so many customers are so disappointed in what they bought from Microsoft Copilots because they’re not getting the accuracy and the response that they want.
Microsoft has disappointed so many customers with AI.
The comments were made during the company’s latest earnings call, where Salesforce reported an eight percent year-over-year revenue growth, surpassing analyst expectations.
