Salesforce to buy document-editing startup Quip for about $582 million

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Woman stands near a Salesforce sign during the company's annual Dreamforce event, in San Francisco

(Reuters) – Cloud-based software maker Salesforce.com Inc <CRM.N> said on Monday it agreed to acquire document-editing startup Quip for about $582 million.

Salesforce has an existing investment in Quip, whose word-processing platform is designed to be used by teams to edit documents or spreadsheets on mobile devices, wearables and desktops.

Quip will be a wholly owned subsidiary of Salesforce once the deal closes.

Quip Chief Executive Bret Taylor, former chief technology officer of Facebook Inc <FB.O>, was appointed to Twitter Inc’s <TWTR.N> board last month.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Savio D’Souza)

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