Salesforce, provider of cloud-based CRM, is acquiring Slack for $27.7 billion. The combined company of Salesforce and Slack will be able to better compete with Microsoft, Oracle and other companies in the cloud enterprise space.
In a press release, “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.”
“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.”
“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.”
We're thrilled to be acquiring Slack!
Combining @SlackHQ with #Customer360 will be transformative, creating the operating system for the new way to work. Together, we'll enable companies to succeed in the all-digital, work-from-anywhere world.Important: https://t.co/bRXZ1Iu1fj pic.twitter.com/xcPH5hRb6J
— Salesforce (@salesforce) December 1, 2020
You can read the full text of Salesforce press release here.
