Salesforce has announced its plans to acquire workplace chat app, Slack, for an estimated $27.7 Billion.
The cloud-based software company says that 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”.
According to The Verge, both Salesforce and Slack have “only become more vital during the coronavirus pandemic as companies worldwide have moved to remote work and moved substantial portions of their businesses online”.
“Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it,” says Salesforce CEO Marc Benioff.
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“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,” says 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.”
