Salesforce will acquire Slack for $27.7 billion
The Salesforce customer relationship management service has announced that it is buying the Slack team collaboration and communication platform.
The press release for the announcement details how this acquisition is happening, with shareholders of Slack Technologies, Inc. getting $26.79 and 0.0776 shares of Salesforce stock per each share of Slack stock. This totals out to a $27.7 billion USD valuation.
The initial integration plan will have Slack become "the new interface" for the Salesforce Customer 360 platform. It will also make Slack's focus on enterprise use kick into overdrive, with a focus on expanding Salesforce's reach beyond its existing customer base. Between Salesforce's existing integrations and Slack's integration with over 2,400 apps and services, the press release claims that the combined entity "will create the most extensive open ecosystem of apps and workflows for business..."
The buyout isn't expected to complete until the second quarter of the 2022 fiscal year for Salesforce, meaning that it's estimated to finish around July of 2022. Until then, Slack is technically independent, though this acquisition gives Salesforce 55% shareholder voting power.
Salesforce press release