After several days of rumors and speculation, Salesforce has officially announced today that it will acquire the workplace communication app Slack. The deal is valued at over $27 billion and marks Salesforce’s biggest acquisition ever.
Slack is a popular workplace chat application available for all platforms, including Mac, iPhone, and iPad. The rumors of a potential Salesforce acquisition started surfacing last week, and the two companies made things official today.
The deal is valued at $27.7 billion and includes a combination of cash and stock:
Under the terms of the agreement, Slack shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share, representing an enterprise value of approximately $27.7 billion based on the closing price of Salesforce’s common stock on November 30, 2020.
Salesforce CEO Marc Benioff praised the platform created by Slack in a statement confirming the acquisition:
Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it. This is a match made in heaven. Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world. I’m thrilled to welcome Slack to the Salesforce Ohana once the transaction closes.
The acquisition comes as both Salesforce and Slack have become increasingly vital to the enterprise market due to the COVID-19 pandemic. Both companies have skyrocketed in valuation and it’s clear to see how Slack can fit in with the rest of Salesforce’s enterprise tools.
Slack will be deeply integrated into every Salesforce Cloud. As the new interface for Salesforce Customer 360, Slack will transform how people communicate, collaborate, and take action on customer information across Salesforce as well as information from all of their other business apps and systems to be more productive, make smarter, faster decisions and create connected customer experiences.
You can read the full announcement from Salesforce and Slack right here.
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