Microsoft officials are speculated to announce a sales bid for Salesforce.com, an enterprise platform for cloud software, leading to shares of the latter jumping by 6.2 percent on Tuesday.
Salesforce stock boosted from $71.40 to $75.82 within a minute, Reuters reports.
Microsoft officials are said to have begun deliberating on the sales bid following an offer from another buyer. However, they have declined to comment on the possible business move.
Salesforce recently made headlines for their establishment of the Robin Hood Foundation, which provides $140 million in annual spending for under-served New York communities. The initiative was a major component of their "1-1-1" model, which allocates one percent of equity to philanthropic donations, added employee benefits and services for community non-profits, Tech Crunch reports.
"When I talk to startup founders about doing this, my reasons are A) employees are demanding it B) corporations should be accountable to all stakeholders and C) because it's a great legacy for CEOs who are building a company to create something bigger," Salesforce foundation leader Suzanne DiBianca said, according to the site.
While it remains uncertain whether Microsoft will confirm their Salesforce bid, the deal has been touted by many analysts for the advancements it may bring to cloud computing, which has become increasingly popular in recent years.
Additionally, given that Microsoft has remained active in advancing cloud computing capabilities for all of its software, the possible bid has not been entirely ruled out.
Salesforce was founded in 1999 in San Francisco, Calif.
