Salesforce has made the acquisition of Slack official. The two companies have signed an agreement for a sum of 27.7 billion dollars, approximately 23 billion euros.
In a press release, Salesforce states that the company will pay out 26.79 billion to Slack’s stakeholders, plus 0.0776 Salesforce shares for each Slack share. According to Salesforce, the value of this sum of money and the shares combined is 27.7 billion dollars.
Integration with Customer 360
Salesforce plans to integrate Slack into Salesforce Customer 360 extensively. The company says that Slack will be the new interface for the CRM product. Salesforce also wants to help Slack build a larger presence in the enterprise, outside Salesforce as well.
Six months to complete
The two companies expect the acquisition to be completed by the second quarter of 2022 of Salesforce fiscal year, which means before the 1st of September in 2021. The completion is pending approval from Slack stakeholders and regulatory bodies. From that moment on, Slack will be part of Salesforce, although Slack-CEO Stewart Butterfield will continue to lead the unit.
With this acquisition, Salesforce enters the broader collaboration and communication market. It will go head-to-head in competing with Microsoft, which could become interesting for business users if both companies step up their game. We have to wait and see how this plays out.
Rumours of a potential Slack-acquisition by Salesforce have been going around for some time. At the time, Slack had a total value of 17 billion dollars, although it quickly rose to 22 billion dollars when the rumours surfaced.
Slack is by far the largest acquisition Salesforce has ever made, well in excess of the Tableau acquisition in 2019. The company paid a sum of 15.7 billion dollars for Tableau. The year before Salesforce acquired Mulesoft.