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Salesforce has agreed to buy MuleSoft for an enterprise value of approximately $6.5bn to bolster innovation.

Salesforce and MuleSoft look to accelerate customers' digital efforts by enabling them to unlock data across cloud apps and devices to make smarter, faster decisions and create differentiated connected customer experiences.

Salesforce will begin with an exchange offer to acquire all of the outstanding shares of MuleSoft. The transaction is expected to close in the second quarter of Salesforce's fiscal year 2019, ending July 31, 2018.

Marc Benioff, chairman and chief executive officer (CEO), Salesforce said: "Every digital transformation starts and ends with the customer. Together, Salesforce and MuleSoft will enable customers to connect all of the information throughout their enterprise across all public and private clouds and data sources—radically enhancing innovation. I am thrilled to welcome MuleSoft to the Salesforce Ohana."

Greg Schott, MuleSoft chairman and CEO, added: "With the full power of Salesforce behind us, we have a tremendous opportunity to realize our vision of the application network even faster and at scale. Together, Salesforce and MuleSoft will accelerate our customers' digital transformations enabling them to unlock their data across any application or endpoint."