Salesforce to acquire enterprise communications platform Slack Technologies for $27.7bn
US cloud-based enterprise software company Salesforce has agreed to acquire California-based Marc Benioff enterprise communications platform provider Slack Technologies in a cash-cum-stock deal worth around $27.7 billion.
Slack Technologies is a channel-based messaging platform, which helps enterprises in aligning their teams, unify their systems, and take their businesses forward.
The company’s platform enables people to work together more effectively, while connecting all their other software tools and services, and find the information they require for their work.
Slack Technologies’ open platform is said to integrate seamlessly with over 2,400 apps that people use for collaboration, communications, and to get work done.
Its platform will become the new interface for Salesforce Customer 360.
Upon closing of the deal, Slack Technologies will be an operating unit of Salesforce and will continue to be headed by its CEO Stewart Butterfield.
Commenting on Salesforce acquisition of Slack Technologies, Marc Benioff – Chair and CEO of Salesforce said: “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.”
As per the terms of the deal, Slack Technologies will be paid $26.79 in cash and 0.0776 shares of Salesforce’s shares.
Stewart Butterfield, commenting on Salesforce acquisition of Slack Technologies, said: “Salesforce started the cloud revolution, and two decades later, we are still tapping into all the possibilities it offers to transform the way we work. The opportunity we see together is massive.
“As software plays a more and more critical role in the performance of every organization, we share a vision of reduced complexity, increased power and flexibility, and ultimately a greater degree of alignment and organizational agility.”
Salesforce acquisition of Slack Technologies, which is subject to the approval of the latter’s shareholders, required regulatory approvals, and other customary closing conditions, is expected to be wrapped up in the second quarter of the former’s fiscal year 2022.