Salesforce is one of the world’s largest players in the cloud computing sector. They will buy Slack Technologies, the owner of Slack’s corporate messenger. The Wall Street Journal reports, Messenger will cost Salesforce $ 27.7 billion, which will be the largest acquisition of the company in its history.
The terms of the deal include that Slack shareholders will receive $ 26.79 billion in cash and 0.0776 ordinary Salesforce shares for each Slack share. According to a company press release, at the closing price of ordinary shares of Salesforce on November 30 ($ 245.8), it gives a total of $ 27.7 billion.
The deal is expected to be completed in the second quarter of next fiscal year Salesforce, i.e. from May to July 2021.
The first reports of a possible deal between Slack and Salesforce appeared last week. During this time, Slack Technologies quotes rose by 47%. At the same time, Salesforce securities for the same period asked for almost 10%. Trading on December 1 quoted Salesforce quotes down 1.8%. Shares of Slack Technologies rose by 2.2%.
Salesforce CEO Marc Benioff has aimed to turn it into a comprehensive provider of technology tools for business since the company was founded 21 years ago. Buying Slack Technologies is another step in that direction, writes WSJ.
“The opportunities for both companies together are enormous,” said Stuart Butterfield, co-founder and CEO of Slack. “It’s the most strategic combination in software history, and I can’t wait to get started.”
As a result of the agreement, Salesforce will strengthen its position in competition with Microsoft, which develops its own Messenger Team, and Google, which has Hangouts.
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