Salesforce Buys Chat Software Developer Slack for $27.7 Billion

Salesforce confirmed that it has agreed to purchase workplace messaging service Slack in a $27.7 billion cash and stock megadeal, marking the largest acquisition that the San Francisco-based business software pioneer ever made in its 21-year history.

Salesforce confirmed that it has agreed to purchase workplace messaging service Slack in a $27.7 billion cash and stock megadeal, marking the largest acquisition that the San Francisco-based business software pioneer ever made in its 21-year history.

According to a statement, Salesforce is buying Slack for $26.79 a share and .0776 shares of Salesforce. The deal was announced on Tuesday together with Salesforce’s earnings release for the third quarter of fiscal 2021.

The deal comes as the two companies aim to gain greater momentum while competing against cloud computing powerhouse Microsoft.

The acquisition would also allow the cloud-based software firm to bolster its business offerings as demand for use of messaging platforms continues to surge amid the coronavirus pandemic.

Logan Purk, a senior analyst with financial advisory firm Edward Jones, said that Salesforce’s acquisition of Slack reflects the intensifying competition in the software market.

According to Salesforce, it plans to integrate the communication software of Slack into its own software offerings.

“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,” Salesforce CEO Marc Benioff said in a statement.

Benioff said he is positive about the potential of the combination of the two companies’ data and tools.

Editors Note: In the story “SALESFORCE-SLACK-DEAL” sent at: 02.12.2020 07:51.

This is a corrected repeat.


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