- Reaction score
- 1,680
Cloud computing giant Salesforce is acquiring workplace chat app Slack, the two companies announced on Tuesday. The deal, rumblings of which began surfacing last week, marks one of the most consequential acquisitions in the business software industries in recent years and Salesforce’s biggest purchase ever.
Salesforce is paying $27.7 billion for Slack, according to the 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,” the announcement reads.
“Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it,” said Salesforce CEO Marc Benioff. “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 Slack CEO Stewart Butterfield. “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.”
Slack has transformed from a fast-rising startup formed as a gaming company in 2009 into a major competitor of Microsoft with more than 12 million daily active users as of October of last year (and likely many more now, though the company has not disclosed concrete numbers) and a market value of close to $25 billion. The company, led by Flickr co-creator Butterfield, started primarily as an email alternative that pitched itself to startups, media companies, and other tech-savvy businesses to better manage interoffice communication.
www.theverge.com
Salesforce is paying $27.7 billion for Slack, according to the 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,” the announcement reads.
“Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it,” said Salesforce CEO Marc Benioff. “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 Slack CEO Stewart Butterfield. “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.”
Slack has transformed from a fast-rising startup formed as a gaming company in 2009 into a major competitor of Microsoft with more than 12 million daily active users as of October of last year (and likely many more now, though the company has not disclosed concrete numbers) and a market value of close to $25 billion. The company, led by Flickr co-creator Butterfield, started primarily as an email alternative that pitched itself to startups, media companies, and other tech-savvy businesses to better manage interoffice communication.
Salesforce is acquiring workplace chat app Slack for $27.7 billion
Slack is now a Salesforce property, marking a substantial shift in the business software industry.
www.theverge.com
Last edited by a moderator:
