SAN FRANCISCO, July 21, 2021 —Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc. “We couldn’t be more excited to have Slack as part of the Salesforce family, combining the #1 CRM and the trailblazing digital platform for the work anywhere world,” said Marc Benioff, Chair and CEO of Salesforce.
Yet another query we ran across in our research was “Which company plans to acquire slack?”.
Salesforce originally announced plans to acquire Slack for a combination of cash and stock in December 2020.
This begs the inquiry “Is slack still in business?”
Slack is booming despite recession. CEO on this ‘time of turbulence’ New York (CNN) Salesforce is buying workplace messaging app Slack for $27.7 billion, marking the largest acquisition in the San Francisco-based cloud-based company’s history.
On December 1, 2020, the companies jointly announced a definitive agreement under which Salesforce would acquire Slack. For more information on the announcement, please refer to this press release.
Salesforce Signs Definitive Agreement to Acquire Slack December 01, 2020 Combination of #1 CRM platform with the most innovative enterprise communications platform will create the operating system for the new way to work, enabling companies to grow and succeed in the all-digital world.
Salesforce to Acquire Slack for $27.7 Billion The move caps an acquisitive streak by Salesforce and ends Slack’s run as an independent publicly traded company. Stewart Butterfield, Slack’s chief executive, at the company’s headquarters in 2017. Slack has faced competitive pressure from Microsoft.
While we were reading we ran into the question “Where is Slack based?”.
The company has its headquarters at Salesforce Tower in San Francisco. Credit Shareholders will get $26.79 in cash and 0.0776 shares of Salesforce stock in exchange for each share of Slack, according to Tuesday’s deal announcement.
This year, Slack’s shares were up roughly 25 percent, though they remained below the level of the company’s public market debut, before news of a deal with Salesforce broke last week. Since the news, Slack’s value has risen to more than $25 billion.
Is Salesforce’s bid for Slack a merger arbitrage scenario?
Salesforce’s bid to acquire Slack combines many points of interest. It would be the 2nd largest software deal in history. It has also destroyed more shareholder value in a week than any merger announcement in the last 20 years. It creates a classic merger arbitrage scenario.
What is Salesforce’s biggest acquisition?
Kim Kulish | Corbis News | Getty Images Salesforce is making the biggest acquisition in its 21-year history. The company announced on Tuesday that it’s buying chat software developer Slack for over $27 billion.