Salesforce today confirmed the reports it will acquire workplace collaboration company Slack and revealed it will integrate the companies’ main platforms. The CRM giant will pay $27.7 billion for Slack, according to a statement released today.
“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.”
Salesforce plans to integrate Slack with its Salesforce Customer 360 product. Slack will become the interface for the CRM platform and will still be able to integrate with external platforms and systems.
The deal had been rumoured for the last week.
“Stewart [Slack CEO and Co-Founder Stewart Butterfield] 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.”
Stewart Butterfield, Slack CEO and Co-Founder said: “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.”
“As software plays a more and more critical role in the performance of every organisation, we share a vision of reduced complexity, increased power and flexibility, and ultimately a greater degree of alignment and organisational agility. Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going.”