Salesforce to acquire Slack for nearly $28 billion

slack logo phone 6489

Quickly to be a unit of Salesforce.

Angela Lang/PJDM

Salesforce on Tuesday mentioned it might acquire Slack for $27.7 billion in money and inventory. The messaging platform will probably be “deeply built-in into each Salesforce Cloud,” the businesses wrote in an announcement. When the transaction closes, Slack will probably be an working unit of Salesforce, and Slack CEO Stewart Butterfield will proceed to guide the platform.

“Stewart and his staff have constructed one of the beloved platforms in enterprise software program historical past, with an unimaginable ecosystem round it,” Salesforce CEO Marc Benioff mentioned within the assertion. “Collectively, Salesforce and Slack will form the way forward for enterprise software program and remodel the best way everybody works within the all-digital, work-from-anywhere world.”

The acquisition comes amid a soar in distant work because of the coronavirus pandemic. In October, Slack teased new features, together with push-to-talk audio calls, Instagram-like tales and the power for individuals from any firm to ship customers direct messages.

“Salesforce and Slack will give firms a single supply of fact for his or her enterprise and a unified platform for connecting staff, clients and companions with one another and the apps they use day by day, all inside their current workflows,” the businesses mentioned.

The transaction is predicted to shut within the second quarter of Salesforce’s fiscal 12 months 2022, pending approval by Slack stockholders, regulatory approvals and different closing situations.

Following reports of a possible acquisition last week, shares of Slack rose nearly 30%.

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Abrar Al-Heeti