Salesforce.com Inc. recently announced its intention to acquire Slack Technologies, Inc. for $27.7 billion, its largest acquisition to date. In a recent Reuters article, Munsif Venggatil notes that for Salesforce, this acquisition will allow the company to better capitalize on the work from home trend as Slack utilizes a real-time messaging system for businesses between employees, customers, and vendors. The new platform will help Salesforce compete against companies like Microsoft, which has been aggressively building out its Teams platform. DA Davidson Analyst, Rishi Jaluria, was quoted saying ”The deal allows Salesforce to get deeper into collaboration and business communication and it’s good for Slack, especially to grow their penetration into non-tech companies.” The offer price for Slack is said to be over 50% higher than where initial discussions began.
Quazar Capital was not involved in the acquisition.
Read the Full Article Here: https://www.reuters.com/article/slack-tech-ma-salesforcecom/update-4-salesforce-to-buy-workplace-app-slack-in-27-7-bln-deal-idUSL4N2IH42V
