Salesforce buys Slack

SAN FRANCISCO–(BUSINESS WIRE)– Salesforce (NYSE: CRM), the global leader in CRM, and Slack Technologies, Inc. (NYSE: WORK), the most innovative enterprise communications platform, have entered into a definitive agreement under which Salesforce will acquire Slack. 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.

Combining Slack with Salesforce Customer 360 will be transformative for customers and the industry. The combination will create the operating system for the new way to work, uniquely enabling companies to grow and succeed in the all-digital world.

Microsoft attempted to buy Slack in previous years, now Salesforce succeeded (for a lot more money). However promising Slack used to be it could not compete against Microsoft in any way during the last 8 months. Slack had to be acquired to become part of something bigger to save it. Salesforce is one step further in becoming a platform player in the business application and collaboration market.

Source : Salesforce Signs Definitive Agreement to Acquire Slack