![]() ![]() The company bought analytics firm Tableau Software Inc. He has set an annual revenue goal of $35 billion for Salesforce by fiscal 2024, compared with $17 billion in fiscal 2020. Bloomberg News and other publications reported that companies including Inc., Microsoft and Alphabet Inc.’s Google expressed interest in buying Slack at various times when it was still private.īenioff for years has turned to acquisitions to keep his product lineup fresh. Slack, launched in 2013, went public via a direct listing in 2019. Slack, which is expected to increase its sales almost 40% to $877 million this fiscal year, could help that effort. Salesforce, among the first of the fast-growing cloud software companies when it went public in 2004, strives to generate year-over-year revenue increases of more than 25%. The stock has almost doubled in 2020, with about half of that gain coming since the acquisition talks were reported. Slack’s shares were little changed after closing at $43.84. Salesforce’s shares declined about 4% in extended trading after closing at $241.35. “This is the most strategic combination in the history of software, and I can’t wait to get going.” “The opportunity we see together is massive,” Butterfield said in the statement. He said he is excited to join the company that sparked the cloud revolution. Stewart Butterfield, Slack’s co-founder and CEO, will continue to run the business as a Salesforce unit when the deal is completed. “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,” Benioff said in the statement. Microsoft’s Teams product, which offers a workplace chatroom, automation tools and videoconference hosting, is a top rival to Slack. The Slack deal would give Salesforce, the leader in programs for managing customer relationships, another angle of attack against Microsoft Corp., which has itself become a major force in internet-based computing. Salesforce Chief Executive Marc Benioff has orchestrated more than 60 acquisitions in 21 years, taking his company from a dot-com-era upstart to a titan of cloud computing. 24, the day before reports about deal talks between the companies. For each Slack share, investors are to receive $26.78 as well as 0.0776 of a share of Salesforce - representing a 55% premium to Slack’s price Nov. The transaction, Salesforce’s largest acquisition, is expected to close by the end of July, the San Francisco company said Tuesday in a statement. for $27.7 billion in cash and stock, giving the corporate software giant a popular workplace-communications platform in one of the biggest technology deals of the year. ![]()
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