Salesforce To Acquire Slack

Salesforce and Slack have entered into a definitive agreement, under which Salesforce will acquire Slack for approx $27.7 billion.

Recently, Salesforce, the global leader in CRM, announced that it has entered into a definitive agreement with Slack Technologies, under which Salesforce will acquire Slack.

According to the terms of the agreement, Slack shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share. This amounts to an enterprise value of approximately $27.7 billion based on the closing price of Salesforce’s common stock on November 30, 2020. 

Salesforce said that integrating Slack with Salesforce Customer 360 will be transformative for customers and the industry.  This blend will shape the operating system for the new way to work, uniquely enabling organizations to grow and succeed in the all-digital world.

Source: Salesforce

"Together, Salesforce and Slack will create the most extensive open ecosystem of apps and workflows for business and empower millions of developers to build the next generation of apps, with clicks not code." wrote Salesforce

Well, the transaction is expected to close in the Q2 of Salesforce’s fiscal year 2022. Salesforce has also entered into a voting agreement with certain stockholders of Slack common stock. These stockholders have agreed to vote all of their Slack shares in favor of the transaction at the special meeting of Slack stockholders to be held in connection with the transaction.