Salesforce sales contract for Slack is expected to be announced on Tuesday after market close, sources said David Faber of CNBC.
The deal is expected to be roughly half cash and half stock, according to the sources, and Slack will be valued at a premium on top of current price. Salesforce is expected to report quarterly results on Tuesday. Slack’s market cap was more than $ 24 billion as of Monday morning.
Talks between the two companies were first reported by the Wall Street Journal last week and confirmed by CNBC, causing Slack’s shares to rise 38%. .
Salesforce has made several large acquisitions in the past few years, including $ 6. 5 billion deal for MuleSoft in 2018 and $ 15. 3 billion deal with the data visualization company Tableau.
The deal with Slack could become one of the biggest software deals out there. IBM bought Red Hat for $ 34 billion in 2019 and Microsoft bought LinkedIn for $ 27 billion in 2016.
It could also make Slack a better competitor for Microsoft’s Teams communications product. Slack filed a complaint against Microsoft with the European Commission this summer claiming it had abused its dominant position to eliminate competition for teams. According to Microsoft, Teams took advantage of the video conferencing capabilities that Slack lacks during the pandemic.
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Salesforce, Slack Technologies, stocks, cloud computing, customer relationship management
World News – USA – Salesforce purchase agreement for Slack is expected to be announced on Tuesday after market close
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