Salesforce is set to acquire Tenyx, a California-based startup established in 2022 that serves clients across different sectors such as e-commerce, healthcare, hospitality, and travel.

On Tuesday, September 3, the Software as a Service (SaaS) company Salesforce said to advance its AI-driven solutions, it has agreed to acquire Tenyx, which develops artificial intelligence-powered voice agents.

The business deal, expected to be finalised in the third quarter with an undisclosed value, will result in Tenyx’s CEO Itamar Arel, CTO Adam Earle, and their team joining Salesforce.

Amid pressure from activist investors, Salesforce announced its intention to double share buybacks and transition away from further company acquisitions after dismantling its mergers and acquisitions committee last year.

The San Francisco-based company is contemplating acquisitions to revive its revenue growth. This strategic move reflects similar transactions made by tech giants Microsoft and Amazon this year, underlining the growing competition for AI tools and talent.

Microsoft paid USD 650 million in March to acquire talent from AI startup Inflection, while Amazon recruited multiple co-founders and staff from Adept, another AI startup, in June.

Salesforce surpassed Wall Street’s second-quarter revenue and profit expectations last week, benefiting from increased spending on its enterprise cloud products.

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