Salesforce to Acquire Workplace Messaging App Slack for $27.7 Billion

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Sienna Rowley
Sienna Rowley
Sienna is an editor at Cloud Host News. She is an internet enthusiast, always eager to explore the latest trend in the tech space. She is a modest family woman who loves traveling in her free time.

On Tuesday, Salesforce declares that it will acquire workplace chat messaging app Slack.

Business software company will acquire workplace messaging app Slack in a $27.7 billion cash-and-stock deal. This deal will be the biggest acquisition ever in the San Francisco-based cloud-based company’s history.

Salesforce is the No.1 CRM that allows the companies to sell, service, market, and conduct commerce from anyplace. Slack brings people, data, and tools unitedly so teams can collaborate and get the job done from anyplace.

Salesforce-Slack 27.7 Billion Dollar Deal

salesforce customer 360 with slack

Salesforce stated that by acquiring Slack for $27.7 billion, the company aims to extend its footprint deeper into collaboration and workflows. Slack will naturally become the front end of Salesforce’s Customer 360 efforts. 

The deal allows Salesforce to offer a unified platform for businesses to connect their staff or employees, clients, and partners with each other and the apps they use, boosting its enterprise portfolio.

For each Slack share, Slack shareholders will obtain $26.79 in cash and 0.0776 shares of Salesforce common stock or $45.5 for each share-based on Salesforce’s closing price on Tuesday.

Salesforce co-founder and CEO Marc Benioff stated

Salesforce-Slack acquisition is a match made in heaven.

Collectively, Salesforce and Slack will mold the future of enterprise software and transform the working approach in the all-digital, remote work world.

On June 2020, Slack acquires corporate directory startup Rimeto

With market capitalization presently at $230 billion, Salesforce has been amongst the prominent players in the Covid-19 pandemic. Salesforce‘s robust growth has been driven by increasing needs for its online business software that encourages and supports remote work and business.

On the contrary, Slack has been striving to comprehensively capitalize on the switch to remote working throughout the pandemic as it meets aggressive rivalry from Microsoft Corp’s Teams and other workplace apps.

However, with Salesforce acquiring Slack, it is well set to include Slack as a unified front-end to access its business enterprise suite.

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