Salesforce acquires work chat app Slack for $27B

SAN FRANCISCO (UPI) — Cloud computing company Salesforce acquired workplace chat app Slack in an agreement announced by the two companies Tuesday.

Salesforce agreed to pay $27.7 billion for Slack, with Slack shareholders receiving $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share. The valuation was based on the closing price of Salesforce’s common stock on Monday.

Marc Benioff, chair and CEO of Salesforce, praised Slack CEO and co-founder Stewart Butterfield for building “one of the most beloved platforms in enterprise software history.”

“This is a match made in heaven,” he said. “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.”

Butterfield similarly said the two companies see a “massive” opportunity in working together.

“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.”

In the announcement, Salesforce said that Slack Connect will become the new interface for Salesforce Customer 360 and will be “deeply integrated” into every Salesforce Cloud.

“Slack will transform how people communicate, collaborate, and take action on customer information across Salesforce as well as information from all of their business apps and systems to be more productive, make smarter, faster decisions, and create connected customer experiences,” the company said.

Reporting by Daniel Uria

United Press International

+ postsBio

United Press International is an international news agency whose newswires, photo, news film, and audio services provided news material to thousands of newspapers, magazines and radio and television stations for most of the 20th century.

• United Press International

  https://www.heartlandnewsfeed.com/author/upi/

  Amazon to hire 250,000 workers for holidays
• United Press International

  https://www.heartlandnewsfeed.com/author/upi/

  14 dead after plane crashes in Amazon
• United Press International

  https://www.heartlandnewsfeed.com/author/upi/

  Coinbase to lay off more than 900 employees
• United Press International

  https://www.heartlandnewsfeed.com/author/upi/

  Samsung announces disappointing 3Q results