Microsoft and Salesforce.com had been in deep talks this spring about an acquisition, but talks have fallen apart because Microsofts $55 billion offer just wasn’t good enough for the company.

According to an NDTV report, Salesforce Chief Executive Mark Benioff had expected as much as $70 billion, and Microsoft was a top suitor for the deal along with Oracle and Amazon.com.

Shares jumped 4 percent for Salesforce and declined 1 percent for Microsoft during afternoon trading.

Microsoft Chief Executive Satya Nadella said it wasn’t just the high asking price, the sheer size of the deal made him reluctant to go through with it.

Salesforce is a market leader in the global customer relationship management market, a $23 billion market. Its software helps companies organize and track sales calls, as well as their leads.

Salesforce doesn’t have any software directly installed on PCs, with all of its services provided online, which is what makes the company so attractive to companies like Oracle and Microsoft who were late getting in to the cloud computing market.

When word came from Bloomberg that Salesforce had been approached by a potential buyer, rumors swirled about which company it could be between Microsoft, IBM, Oracle, SAP, and Amazon.

SAP’s top executive said this week that the company wouldn’t be pursuing Salesforce.

Salesforce shares were up to $74.16 on the New York Stock Exchange. The company is valued at $48.4 billion as of the end of Thursday. Salesforce reported its first profit in seven quarters this week.

Salesforce.com is a global cloud computer company that is headquartered in San Francisco. It is best known for its customer relationship management (CRM) product, but it has expanded into commercial applications of social networking.

Oracle executive Marc Benioff founded the company back in 1999. The company went public on the New York Stock Exchange in 2004 using the stock symbol CRM, and raised $110 million.