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Data analytics company Splunk jumps following news that Salesforce is buying Tableau

Key Points
  • Splunk shares rose more than 6% Monday midday.
  • Salesforce announced a deal to buy Tableau for $15.3 billion.
  • Tableau and Splunk have had a partnership since 2014.
Doug Merritt, CEO, Splunk
Scott Mlyn | CNBC

Shares of data analytics company Splunk jumped more than 6% Monday midday following news that one of its partners was being acquired by Salesforce.

Splunk, which has a market cap of more than $18 billion, has a partnership with data-visualization company Tableau. Salesforce announced a $15.3 billion all-stock deal for Tableau on Monday. Tableau's shares also rose following the announcement.

Splunk reported a net loss of $155 million for the first quarter, but saw year-over-year revenue growth of more than 36 percent, according to a securities filing in May. The partnership with Tableau was announced in 2014.

Splunk's stock price is up more than 13 percent year-to-date but is down from highs of nearly $140 it reached in May.

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