In one of the industry’s largest acquisitions, Salesforce has acquired Slack for $27.7 billion. Slack shareholders will receive $26.79 per share and 0.0776 shares in Salesforce.
“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,” the acquisition announcement states.
Over the years, Slack has transformed from a gaming-focused startup to a must-have for remote workplaces during the COVID-19 pandemic. The app currently has more than 10 million active users and recently expanded its partnership with IBM.
“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,” Slack CEO Stewart Butterfield stated.
“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.”