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Salesforce has completed the acquisition of Slack, eight months after it entered the definitive agreement to acquire the latter for $27.7B in a cash and stock deal. The acquisition would combine Slack with its Customer 360 tool, creating an operating system that allows companies to succeed in an all-digital world.
Customer Relationship Management (CRM) solutions provider Salesforce has officially completed its $27.7 billion acquisition of Slack, which it announced in December last year, a press release from the company said.
In December 2020, Salesforce signed a definitive agreement to acquire an enterprise communications platform, Slack, in a $27.7 billion cash and stock deal, wherein Slack shareholders would be given $26.79M in cash and 0.0776 shares of Salesforce common stock (closing price on Nov 30, 2020) for each Slack share. The CRM provider stated that it would combine Slack with its Customer 360 tool, creating an operating system that allows companies to succeed in an all-digital world.
Marc Benioff, CEO of Salesforce, expressed delight at the deal’s close and welcomed Slack to the Salesforce family. He added that the companies together would determine the future of enterprise software and create a digital HQ, enabling organizations to deliver customer and employee success from anywhere across the globe.
In a press release, Salesforce enunciated that the acquisition would additionally bring together two of the software industry’s most dynamic communities, creating an open and extensive ecosystem to deliver the next generation of digital-first apps and workflows for business. Slack would operate under the Slack brand and continue its mission, led by Stewart Butterfield, co-founder and CEO and drive focus towards its customers and community. As part of Salesforce, the communications platform would accelerate and extend its mission to make work-life simpler, more pleasant, and more productive.
We have a once-in-a-generation opportunity to rethink and reshape how and where we work. Salesforce and Slack are uniquely positioned to lead this historic shift to a digital-first world. I could not be more excited for what’s to come,Stewart Butterfield, co-founder and CEO