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This article has been updated to include an updated earnings forecast.
Salesforce.com Inc.
CRM -0.39%
buys Salesforce.org – created to distribute Salesforce software in small amounts to nonprofit organizations, schools and other organizations – for $ 300 million. Salesforce.org will transition from a public-purpose company to a Salesforce branch dedicated to the same task, while the purchase price will go to the non-profit Salesforce.com foundation. Salesforce said it would continue "to provide free, cost-effective software to non-profit organizations and educational institutions around the world," while making the philanthropic branch of its activity a real vertical software within the company. Salesforce said it would increase its revenue from $ 150 million to $ 200 million this fiscal year, but said the $ 200 million non-cash one-time charges of the transaction reduced its profit forecasts adjusted 20 cents per share for the fiscal year. "The impact on BPA GAAP should be greater than for non-GAAP EPS because of additional charges related to stock-based compensation and various other non-cash items, including adjustments to Income tax, "said the software publisher. Shares fell slightly after the announcement. Salesforce executives scheduled a 14-hour teleconference. Pacific weather.
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