Salesforce.com (CRM) on Wednesday said it is acquiring substantially all of the shares it didn’t already own in its Japanese subsidiary, Kabushiki Kaisha Salesforce.com, for about $170 million in cash. The company said taking full ownership of the Japan unit will allow it “to further benefit from the growth in the Japanese cloud computing market and integrate and align its financial and operational functions.”
The Japan business was formed in 2000 as a joint venture with SunBridge Corp. Before this transaction, CRM had a 73% stake. The company said the deal will have an immaterial impact on its 2011 results; 2012 results will increase by an immaterial amount.
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