CRM giant Salesforce (NYSE: CRM) is to acquire enterprise communications platform Slack Technologies, Inc. (NYSE: WORK).
Under the terms of the deal, 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.
Upon the close of the transaction, Slack will become an operating unit of Salesforce, integrated into every Salesforce Cloud, and will continue to be led by CEO Stewart Butterfield.
Together, Salesforce and Slack will create the most extensive open ecosystem of apps and workflows for business empowering millions of developers to build the next generation of apps.
Slack provides an open platform that integrates with more than 2,400 apps for people to collaborate, communicate and get work done. The company serves organizations in every industry around the world, from the fastest growing startups to Fortune 500 companies, such as Starbucks, Target and TD Ameritrade, along with academic institutions, non-profits, and governments in more than 150 countries.