US-based sales software developer SteelBrick is in talks to be acquired by cloud computing firm Salesforce.com, already one of the company’s shareholders, The Information has reported.
The deal is expected to be worth up to $600m and would largely consist of shares.
Founded in 2013, SteelBrick’s software enables companies to automate quoting, contracting and billing processes. The tools are built specifically for Salesforce’s customer relationship management platform.
Salesforce previously backed Steelbrick’s $48m series C round in October this year through its corporate venturing unit Salesforce Ventures. The round was led by venture capital firm Institutional Venture Partners (IVP), while Emergence Capital and Shasta Ventures also participated.
Salesforce Ventures also invested in an $18m series B round in February 2015 alongside Emergence and Shasta Ventures, which led the round. Emergence, angel investor Matt Gorniak and SteelBrick’s chief executive Godard Abel invested a total of $11.5m over two rounds in 2014.