Salesforce acquires Slack in a $27.7 billion deal

Salesforce has entered into a definitive agreement with Slack, under which Salesforce will acquire Slack for a value of approximately $ 27.7 billion based on the closing price of salesforce’s stock as of November 30, 2020.

“Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it,” said Marc Benioff, Chair and CEO, Salesforce.

 “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.” He added.

“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,” said Stewart Butterfield, Slack CEO and Co-Founder. “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. Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going.”

Together, the two companies, aim to have a unified platform for connecting employees, customers, and partners with each other and the apps they use every day, all within their existing workflows.

Salesforce is a CRM platform that enables companies to sell, service, market, and conduct commerce, from anywhere, while Slack brings people, data, and tools together to allow for team collaboration from anywhere.

Slack will be integrated into every Salesforce cloud to create a new interface for Salesforce Customer 360, thereby transforming how people communicate and collaborate.

According to an official statement, upon the close of the transaction, Slack will become an operating unit of Salesforce and will continue to be led by CEO Stewart Butterfield.

The transaction is expected to close in the second quarter of Salesforce’s fiscal year 2022, subject to approval by Slack stakeholders, the receipt of required regulatory approval, and other customary closing conditions.