Salesforce is set to take ownership of the reigning workplace chat tool of the pandemic.
- Salesforce Purchasing Slack
- Astro Slack Acquisition
- Slack Acquisition Close Date
- Slack Acquisition Price
The software company announced today that it plans to acquire Slack, the 11-year-old collaboration software maker co-founded by Stewart Butterfield and Cal Henderson, in a cash and stock transaction worth $27.7 billion. The deal marks the largest purchase in Saleforce's history, and is among the top 10 biggest acquisitions in 2020--trumped by multibillion-dollar deals like S&P Global's $44 billion purchase of IHS Markit and AMD's $35 billion purchase of Xilinx.
Co-founder and CEO Marc Benioff said in a statement that the deal was a 'match made in heaven,' and stressed Slack's importance to the future of remote work. '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,' wrote Benioff, using a term from Hawaiian culture that the company uses to refer to its internal support system.
Salesforce Signs Definitive Agreement to Acquire Slack December 01, 2020 Combination of #1 CRM platform with the most innovative enterprise communications platform will create the operating system for the new way to work, enabling companies to grow and succeed in the all-digital world. Salesforce to Acquire Slack for $27.7 Billion The move caps an acquisitive streak by Salesforce and ends Slack’s run as an independent publicly traded company. Stewart Butterfield, Slack’s chief. The acquisition closing price will be $26.79 plus 0.0776 times the Salesforce stock price. I did the math on this yesterday. The current buyout price is 43 bucks and Slack was trading around 40. Slack to become the new interface for Salesforce Customer 360. Salesforce is the no. 1 CRM that enables companies to sell, service, market and conduct commerce, from anywhere. Slack brings people, data and tools together so that teams can collaborate and get work done, from anywhere. Slack first succeeded with small teams who wanted to accelerate their work and was often dragged into organizations by early adoption. But today, waves of consolidation are leaving people with.
Should the deal receive approval from shareholders, as well as the Federal Trade Commission and the U.S. Department of Justice, Slack's co-founders stand to gain handsomely. CEO Stewart Butterfield maintains an 8 percent stake in the company, and co-founder Cal Henderson owns a 3 percent stake. At a $27.7 billion valuation, that would make Butterfield's stake worth $2.2 billion and Henderson's stake worth $831 million.
The founders are also expected to stay on at the united company, which, according to a statement, will adoptSlack's interface for Salesforce's software. In other words, Salesforce will start to look more like Slack, instead of the other way around. Saleforce's current workplace chat tool, Chatter, allows users to message one another and share files, similar to Slack. But Chatter is only available to Salesforce users. Adopting Slack as Salesforce's interface could open it up to an even wider number of businesses.
While the exact details of the integration haven't been revealed yet, the company did disclose that both Slack and Salesforce users will have access to the other company's ecosystem of apps. Slack's platform integrates with more than 2,400 apps like Google Calendar or Zendesk, and companies choose which they prefer. Salesforce has a library of enterprise apps that can assist with everything from scheduling to creating graphics.
Slack would be aligned with Salesforce Customer 360, the customer relationship management (CRM) software used by sales and customer service teams in companies around the world. Currently, Salesforce Customer 360 is the most widely used CRM tool of its kind.
The transaction puts pressure on Microsoft, Salesforce's competitor, which has its own remote work chat tool, Microsoft Teams. Prior to Slack, Salesforce acquired two companies that also directly compete with Microsoft's products: Tableau, a data visualization platform, and MuleSoft, a back-end software program that connects data.
Salesforce Purchasing Slack
The transaction is expected to close at the end of Salesforce's second quarter in 2022, following the necessary approvals.
Astro Slack Acquisition
Slack Acquisition Close Date
This time last year, Slack Technologies, the popular workplace chat provider, was one of the most eagerly anticipated public tech debuts of 2019. That seems like a long time ago. Since Slack went public in June, its stock has dropped about 40%.
Slack Acquisition Price
The reason for the slump: Revenue growth at Slack is slowing and competition is intensifying, especially from Microsoft. The tech giant is relying on a familiar tactic—bundling a Slack killer with a widely used existing product, its Office 365 suite of apps. Given that competitive pressure, I predict 2020 will be the year that—after years of acquisition speculation—a larger tech company will finally buy Slack.