Wednesday, December 2, 2020

Salesforce Acquires Slack For US$27.7 Billion


CRM software maker Salesforce announced that it will be acquiring another software maker. The company in question is Slack, which shares the name with its workplace messaging software. The acquisition deal is worth US$27.7 billion (~RM112.8 billion), nearly twice of Salesforce’s largest acquisition prior, according to the Wall Street Journal.

Word of the deal first came about last week, when both companies were already in advance talks. Now that the deal is official, it sets itself as one of the largest entities in the business realm. Both company heads are overtly pleased about the deal too. TechCrunch quotes Salesforce CEO as saying in a statement “This is a match made in heaven”. Slack CEO, in the meantime, said “I believe this is the most strategic combination in the history of software”.

And they may have a point. Slack is positioned as the messaging app to replace workplace emails, while Salesforce deals with a business’ communication with customers, current and future.

Thanks to troubling times, Slack was valued to be just over US$25 billion. TechCrunch reports that it has lost 40% of its value since the start of this year. All this made it a prime acquisition target, which Salesforce ultimately capitalised on.

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