CRM - Quick Take - Salesforce Acquires Customer Agent Platform Fin for $3.6B; Highlighting Our Previous Notes on Fin

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CRM - Quick Take - Salesforce Acquires Customer Agent Platform Fin for $3.6B; Highlighting Our Previous Notes on Fin

oming a leading agentic

Stock Rating BUY customer experience platform and our industry research on the AI-driven product.

Unchanged Our Thoughts. Salesforce has been very active in M&A recently, acquiring consumption-

Price Target $280.00 based metering and rating platform m3ter (private) last week for an unreported figure, and more relevant, composable content platform Contentful (private) earlier this month for

Unchanged between $1 - $1.5 billion based on reporting from The Information. In our opinion, Service

Cloud use cases have been at the center of current Agentforce focus as we believe customer

service automation appears to present the clearest ROI in terms of agentic impact at the

moment, beyond coding agents. While we are interested to see how Fin will fit into the 4 Page Document

broader Agentforce portfolio, we highlight that Fin has had significant traction within agentic

service and customer support use cases thus far, highlighted by Ramp's (private) robust

Reasons for this report corporate spend dataset showing Fin capturing ~20% of customer experience spend. We

believe that Salesforce can leverage its broad distribution network to help maintain the

✓ Quick Reaction to Newsflow/Volatility momentum that Fin has seen within customer experience use cases while adding a unique

✓ M&A Announcement growth lever to the Service Cloud business potentially.

At the same time, we will be looking to learn more about what Fin provides in functionality

related in comparison to what we have viewed as a robust set of capabilities within

Agentforce Service (formerly known as Service Cloud) at Salesforce.

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