Salesforce is buying Slack in a multibillion dollar deal. Both are pioneers in the enterprise software business. Although this megadeal is still pending, but since it’s confirmation their stock market prices has seen major spikes.
Salesforce Buying Slack in $27.7 Billion Deal
Salesforce is a huge Customer Relationship Management (CRM) company which operates through cloud based software. The company is based in San Francisco, California. The company has acquired an annual revenue of more than 20 billion dollars as of 2020.
Slack is a software company that is said to be a hub of collaborations between companies. As of 2019, the company has brought in 401 million dollars in revenue. The headquarter of the company is also in San Francisco, California.
CEO of Slack, Stewart butterfield chimed in as a statement,
“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,”
Salesforce has announced that the company is set to acquire Slack and delve deeper into the enterprise social software business. Slack’s stock prices have increased a lot after the announcement was made. The acquisition is going to bring in major change in the new age. Slack offers exclusivity to improve a way of communication among employees of industries. It influences and promotes external interaction, to build a community of users as well as partners.
Marc Benioff, The CEO and co-founder of Salesforce stated,
“This is a match made in heaven. 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,”
While arriving in 2020, since becoming a public company, Slack had a 40% decrease in value. So it was not awe striking to see the company face takeover. The shocking news is the price. Salesforce must have future plans and ambitions with the future offspring company. It has a high possibility of rivaling in the big league companies such as Microsoft.