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Benioff: The market is 'roaring' right now, so Salesforce isn't looking for acquisitions


Salesforce is announcing a slew of new partnerships — but the technology company, known for chomping up smaller players, doesn't see any acquisitions in the near future.

"We picked up some great companies last year because the acquisition window was really open," CEO Marc Benioff told CNBC's "Closing Bell" on Monday. "But the reality is, because the market is roaring, the acquisition window is really narrowed, and I just don't see any acquisitions in the short-term."

That's an about-face for a company that has been on a recent buying spree, agreeing to acquire companies like Quip, Demandware and more. The company was also interested in buying LinkedIn but lost out to Microsoft, and briefly looked at Twitter as well.

Marc Benioff, CEO of Salesforce.
Adam Jeffery | CNBC
Marc Benioff, CEO of Salesforce.

But even without scooping up other companies, Salesforce is expanding its reach through partnerships. The San Francisco-based company announced on Monday a new deal with IBM to make it easier for Salesforce customers to use IBM's artificial intelligence platform.

The partnership will build on Salesforce's own AI platform, Einstein, Benioff said.

"It's very exciting, so we just released our spring release Salesforce, so all of our customers around the world have Einstein now built into their Salesforce implementations," Benioff said. "Now what we're doing is we're going to augment that."

For example, the tie-up could allow insurance companies that use Salesforce to notify policy holders that a hailstorm is coming, by using IBM's Weather Company data, Benioff said.

"This is two of the most important companies in technology coming together for the benefit of their customers," Benioff said.

Benioff said Salesforce's artificial intelligence push shows how Salesforce customers get all the latest technologies automatically. The company is announcing more major relationships tomorrow, Benioff said.