Salesforce announced an agreement on Tuesday to buy MuleSoft in an enterprise technology merger that would value MuleSoft at $6.5 billion.

Salesforce will pay $44.89 per share for MuleSoft, a 36% premium -- each MuleSoft share will equal $36 in cash and 0.0711 shares of Salesforce common stock, the companies said. The deal is expected to close by the end of July.

MuleSoft makes a platform that helps Fortune 500 companies stitch together disparate software applications, data, and devices. Salesforce CEO Marc Benioff said in a statement that the merger will help Salesforce users unite data across different cloud products.

MuleSoft had one of the best opening IPO days of 2017 when it went public a year ago on the New York Stock Exchange. Prior to its public offering, MuleSoft raised money from Salesforce Ventures.

Together, Salesforce and MuleSoft will accelerate customers' digital transformations, enabling them to unlock data across legacy systems, cloud apps and devices to make smarter, faster decisions and create highly differentiated, connected customer experiences.

MuleSoft will continue to build toward the company's vision of the application network with Anypoint Platform, and MuleSoft will power the new Salesforce Integration Cloud, which will enable all enterprises to surface any data -- regardless of where it resides -- to drive deep and intelligent customer experiences throughout a personalized 1:1 journey.

As part of the world's #1 CRM company and fastest growing top five enterprise software company, MuleSoft will be able to accelerate its growth and deliver even more innovation to its customers at scale.

Salesforce shares retreated $4.57, or 3.7%, to $120.55, while MuleSoft gained $2.19, or 5.2%, to $44.19