Monday, April 4, 2011

Salesforce.com (CRM), (INTU) Partner to Market in Cloud

With the apparent goal of quickly expanding its customer relationship management business, Salesforce.com (NYSE:CRM) has announced it is partnering with Intuit (NASDAQ:INTU), maker of QuickBooks, whereby it'll increase its presence in the cloud.

Intuit is used by approximately 4.5 million small businesses, and per the agreement between the two companies, Intuit will resell Salesforce.com's CRM via its App Center.

Users will be able to put the data of their customers together with QuickBooks and QuickBooks, using an online version of tax software.

According to Brad Zelnick, vice president and senior software analyst with Macquarie Group, "CRM is the Trojan horse. With CRM Salesforce is able to land and expand and go deeper into corporations."

Intuit was trading at $53.87, falling $0.08, or 0.15 percent. Salesforce.com was trading at $134.51, gaining $0.39, or 0.29 percent.

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