The Washington Post
ALSO IN BUSINESS
Salesforce is buying Tableau Software in an all-stock deal valued at $15.7 billion. Tableau uses self-service analytics to help people at any skill level work with data. Among the companies that use Tableau’s services are Charles Schwab, Verizon and Netflix. Once the transaction closes, Tableau will operate independently from Salesforce, the customer-management software developer, and stay headquartered in Seattle.
Gambling regulators in New York have voted to allow sports betting at four Upstate casinos. The state’s Gaming Commission approved regulations Monday that will permit wagers at Resorts World Catskills in Monticello, Rivers Casino and Resort in Schenectady, Tioga Downs in the Southern Tier, and Del Lago Resort and Casino in the Finger Lakes. Bets won’t start until the facilities receive their wagering licenses, which is likely to be later this summer. The state’s tribal casinos also plan to allow wagers.
Apollo Global Management, a private-equity firm, is buying online photo publishing company Shutterfly for $51 per share. Apollo will pay
$1.74 billion for the 20-year-old company, which sells products such as photo prints, holiday cards and photobooks. Demand for that type of service has declined as people opt to share photos online through social networks. Redwood City, Calif.based Shutterfly’s stock closed at $48.95 per share Friday and was trading as high as $94.28 per share a year ago. Ryan O’Hara, former CEO of real estate company Move Inc., will become Shutterfly’s new chief executive.
Wallstreet.cn, a popular financial news app in China, said Monday that it had been suspended by regulators. The company took its app and website offline to make changes to comply with laws and regulations, according to a statement on its Weibo account, which has almost 3 million followers. It will strengthen self-inspection, improve management and try to bring the app back online as soon as possible, it said. The app and website became inaccessible earlier Monday without an official explanation, causing confusion among users.