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Salesforce concludes $27.7bn Slack acquisition

By , ITWeb
South Africa , 22 Jul 2021

US-based customer relationship management (CRM) solutions giant Salesforce has completed the acquisition of Slack Technologies.

In December last year, Salesforce announced it was buying Slack, an enterprise communications platform, in a $27.7 billion deal.

At the time, the CRM firm said under the terms of the agreement, Slack shareholders would 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 30 November 2020.

In a press statement yesterday, Marc Benioff, chairman and CEO of Salesforce, says: “We couldn’t be more excited to have Slack as part of the Salesforce family, combining the number one CRM and the trailblazing digital platform for the work anywhere world.

“Together, we’ll define the future of enterprise software, creating the digital HQ that enables every organisation to deliver customer and employee success from anywhere.”

“We’ve learned over the past year that the workplace isn’t snapping back to the way it was,” says Bret Taylor, president and chief operating officer of Salesforce. “Together, Slack and Salesforce Customer 360 will give every company in the world a single source of truth for their business and a single platform for connecting employees, customers and partners with each other and the apps they use every day.”

Says Stewart Butterfield, Slack CEO and co-founder: “We have a once-in-a-generation opportunity to rethink and reshape how and where we work. Salesforce and Slack are uniquely positioned to lead this historic shift to a digital-first world. I could not be more excited for what’s to come.”

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