The software company has been shifting to remote work, which "means we require fewer resources to support our in-office environment.”
The deal “could provide businesses and customers with more support for interactions that occur on Facebook and its other apps."
The rights issue to finance the deal would be the largest this year from a U.K. company.
The cloud-based data warehouse company is “one of the world’s most valuable former startups that is still private."
The software giant saw a drop-off in deals, particularly in industries most affected by COVID-19 such as hospitality and retail.
“While our core business remains strong, with attractive profitability and cash flow characteristics, our debt levels are too high."
The full-year forecast fell below “high investor expectations for team collaboration and communication names amidst this [work from home] era.”
The acquisition of the web monitoring startup will expand a business that Cisco has been building since it acquired AppDynamics in 2017.
"Our results, amidst this global crisis, demonstrated our ability to execute at speed, innovate at scale and the strength of our business model."
The software firm cited the negative impact of COVID-19 on small business customers and the extension of the tax filing deadline to July 15.
The deal will add payments functionality to SoFi's growing array of consumer financial options.
The $1.33 billion deal "signals the importance of making industry capabilities even more a part of the [Salesforce] platform offerings."
