© Reuters. FILE PHOTO: A Salesforce logo is seen in its exhibition space, at the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, June 16, 2022. REUTERS /Benoit Tessier/File photo
(Reuters) – Activist investor Elliott Management Corp has made a multi-billion dollar investment in cloud-based software firm Salesforce (NYSE:) Inc, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
Details of the deal were not available, according to the report.
“We look forward to working constructively with Salesforce to get the value that befits a company of its stature,” Jesse Cohn, Elliott’s managing partner, told the newspaper, adding that Elliott has followed Salesforce for nearly two decades.
Elliott Management Corp and Salesforce did not immediately respond to a Reuters request for comment.
Earlier this year, Salesforce Inc said it plans to cut jobs by 10% and close some offices after rapid hiring from the pandemic left it with a bloated workforce amid an economic slowdown.