The collaboration tools have grown rapidly in popularity and now have more than 12 million daily active users, according to the company’s web site, and more than 119,000 paying customers.īenioff, on the earnings call, said that more than 90 percent of Slack’s enterprise customers are also Salesforce customers. Slack, based in San Francisco, was founded in 2009 and began offering its collaboration service in 2013. “What this is all about is the value of the social enterprise and creating this incredible idea that you have this amazing hub of productivity and collaboration, of integration applications, that now leverages all this amazing data,” said a buoyant Benioff on the call. “When you look at what happens when you put Slack and Salesforce together, you know the fundamental experience for the customer just changes.” It’s the central nervous system of so many companies,” Benioff said Tuesday evening during the Salesforce fiscal 2021 third quarter earnings call. “We see in Slack as a once-in-a-generation platform. The two companies said that Slack will be “deeply integrated into every Salesforce Cloud” and will become “the engagement layer” and “the new interface for Salesforce Customer 360” – the Salesforce term for its overall platform. That follows the model Salesforce has used with other acquisitions, including Tableau Software, which Salesforce bought last year for $15.7 billion. Once the acquisition is complete Slack will become a Salesforce operating unit and will continue to be led by Butterfield and his management team, the companies said. Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going,” Butterfield said. “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. The opportunity we see together is massive,” Butterfield said in a statement. “Salesforce started the cloud revolution, and two decades later, we are still tapping into all the possibilities it offers to transform the way we work. The companies expect to complete the acquisition in Salesforce’s fiscal 2022 second quarter, which ends in July 2021. The acquisition has been approved by both companies’ boards but remains subject to approval by Slack shareholders and required regulatory approvals and other customary closing conditions. That market cap was about $17 billion before reports of a Salesforce acquisition began circulating. Slack, whose stock trades on the New York Stock Exchange under the symbol WORK, has a $25.05 billion market cap based on Tuesday’s $43.91 per share closing price. I’m thrilled to welcome Slack to the Salesforce Ohana once the transaction closes,” Benioff said. 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. “Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it,” said Marc Benioff, Salesforce CEO, speaking of Slack co-founder and CEO Stewart Butterfield, in a statement. That puts the total value of the deal at $27.7 billion. Salesforce and Slack announced a definitive agreement under which Salesforce will buy Slack shares for $26.79 in cash and 0.0776 shares of Salesforce common stock (based on the Nov. The acquisition sets up a competitive collision between Salesforce and Microsoft, whose own Teams collaboration software has gained huge market traction and user adoption this year. Cloud CRM application giant Saleforce will acquire Slack Technologies, developer of the popular Slack online collaboration service, for $27.7 billion, the two companies announced Tuesday.
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