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Jul 232021

Salesforce acquires Slack

The world’s number one cloud-based software company, Salesforce, closes its biggest acquisition in 22 years after purchasing popular chat software developer Slack. Prices popped 2.55% on Thursday.

Cloud software industry leader Salesforce has just made history with its biggest acquisition ever and the eighth-biggest M&A deal in tech history. Salesforce has just completed its acquisition of Slack Technologies (WORK), which operates a fast-growing messaging app that has boomed during the pandemic. The $27.7 billion deal will bring together two powerhouses in the business software industry, and aims to better prepare the company for the changing work environment the world is now seeing.

We’ve learned over the past year that the workplace isn’t snapping back to the way it was. Together, Slack and Salesforce Customer 360 will give every company in the world a single source of truth for their business and a single platform for connecting employees, customers, and partners. Salesforce and Slack are uniquely positioned to lead this historic shift to a digital-first world,

the company said in a statement.

The deal was announced back in December, at which point Slack (WORK) had only been publicly traded for around 18 months, after it went public at a $16 billion valuation.

The deal has been on the receiving end of some regulatory scrutiny – in February 2021 the Department of Justice began a probe into the acquisition. However, the DoJ recently dropped the antitrust review and Salesforce now officially owns Slack (WORK), creating a worthy opponent for others in the industry like Microsoft's (MSFT) Teams and Zoom (ZM), which has just purchased communications platform Five9.