Once the deal is done, Quip will become Salesforce’s wholly owned subsidiary.

Salesforce.com, a cloud based software company has disclosed today that it has agreed to acquire Quip, a document editing startup, for nearly $582 million.

Incidentally, Salesforce already has a stake in Quip, a cloud-based multi user enabled word processing platform which has been designed so that it can be used by teams to edit documents and spreadsheets on desktops, mobiles and wearable devices.

Once the deal is done, Quip will become a wholly owned subsidiary of Salesforce.

Of note is that fact that Bret Taylor, Quip’s CEO, who used to be Facebook’s Chief Technology Office (CTO), was appointed to Twitter board last month.

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Tags: Top, Salesforce, Quip, cloud computing, spreadsheet, document editing, team based, mobiles, desktop, wearables,