Salesforce bought the workplace software company Slack in a mega deal.
Salesforce has made plenty of acquisitions recently, but this deal is the biggest hit of all.
Salesforce is going to integrate Slack into all facets of its cloud. The CEO of
Salesforce, Marc Benioff, was so spirited about this deal that he called it a match made in heaven. Benioff believes Slack fits well in the company’s vision and was amazed at the possibilities the deal has created.
The leader in cloud software, Salesforce, cashed in on the change in work culture created by the pandemic this year. It also shows how competitive the software world has become.
This acquisition by Salesforce would certainly revolutionize the way people work in a digital-first culture all over the globe. The combination of two industry-best software would help Salesforce compete with its rival Microsoft that failed to strike a deal with Slack in the past.
Slack being the new interface for Salesforce Customer 360, will build unique and connected customer experiences. It will become the operating unit of Salesforce and will be jointly led by Salesforce’s CEO Stewart Butterfield.
The two tech giants, together, will build an open ecosystem of apps that redefines enterprise software.
The merger entails Salesforce paying Slack shareholders in cash and stock. Shareholders will be paid $26.79 in cash and about 0.08 Salesforce sharesfor each share own. It’s a big move Salesforce is making for cloud dominance and strengthening its digital footprint.