Salesforce on Monday announced that it will be buying data visualization company Tableau in an all-stock deal amounting to $15.7 billion. The company’s declaration comes soon after Google purchased Looker, an analytics startup firm, for $2.6 billion last week.

Salesforce’s desire to buy Tableau is being viewed as former’s attempt to boost its own work in the field of data visualization and tools, which can facilitate companies in understanding large amounts of data used and collected by them.

In an announcement, Salesforce said that the buyout deal would include exchanging Tableau’s Class A and Class B common stock with 1.103 shares belonging to the common stock of Salesforce. Tableau’s shares are traded in public stock.

Salesforce further explained that $15.7 billion refers to the enterprise value of the deal, which has been calculated on the basis of the average price of its own shares as on June 7, 2019.

Meanwhile, trading on Tableau’s stock has temporarily stopped following the news. According to the numbers reported on Google Finance, the value at which the deal is priced means an enormous leap from the company’s last market share value estimated at $10.79 billion at the close of trading last Friday.

Salesforce said that both the companies have already approved the deal. The company further stated that this deal means a lot to them in the light of Salesforce’s efforts to expand beyond CRM technology into other realms of analytics and data visualization.

The company also shared that despite having worked really hard, it lost the deal on buying LinkedIn to Microsoft. Salesforce added that even though there may not be much in common between LinkedIn and Tableau, this deal is likely to help the company engage more with its existing customers in terms of providing additional data intelligence services, just what they had expected from LinkedIn.