Full Answer
Why Salesforce acquire Slack?
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
What is the voting agreement between Salesforce and slack?
Salesforce has also entered into a voting agreement with certain stockholders of Slack common stock, under which each such stockholder has agreed to vote all of their Slack shares in favor of the transaction at the special meeting of Slack stockholders to be held in connection with the transaction, subject to certain terms and conditions.
What documents does Salesforce plan to file with the SEC for slack?
In connection with the proposed transaction, Salesforce intends to file with the SEC a registration statement on Form S-4 that will include a proxy statement of Slack and that also constitutes a prospectus of Salesforce. Each of Salesforce and Slack may also file other relevant documents with the SEC regarding the proposed transaction.
What is the future of slack?
Slack will continue to operate under the Slack brand, driving forward a continued focus on its mission, customers, and community. Slack will continue to be led by CEO and Co-Founder Stewart Butterfield.
When did Slack become Salesforce?
SAN FRANCISCO, July 21, 2021—Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc.
What happens to my Slack stock if Salesforce buys them?
Slack Technologies (NYSE:WORK), the collaboration software firm, is the subject of a takeover bid from Salesforce (NYSE:CRM). The agreement stipulates that Slack shareholders will receive $26.79 in cash and 0.0776 Salesforce shares per share of WORK owned.
Is Slack stock now Salesforce?
In December, Salesforce signed a definitive agreement to acquire the popular messaging software platform Slack Technologies in a cash and stock deal worth $27.7 billion, making it Salesforce's largest-ever acquisition.
What happens to my Slack stock now?
Under the terms of the agreement, Slack shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share, representing an enterprise value of approximately $27.7 billion based on the closing price of Salesforce's common stock on November 30, 2020.
Will Slack be delisted?
Its stock, ticker WORK, started trading on June 20, 2019. The NYSE set a reference price of $26 to start off trading and the stock rose to more than $41 in the initial hours of trading. It was delisted in June 2021 after Salesforce completed is acquisition, and shareholders were given Salesforce stock.
What does Salesforce acquisition of Slack mean?
We think the Salesforce acquisition of Slack is just the beginning of a greater movement, where large enterprise players will start buying up smaller applications to improve their platform solutions.
Who owns Salesforce now?
Marc Russell BenioffMarc Russell Benioff (born September 25, 1964) is an American internet entrepreneur and philanthropist. He is the co-founder, chairman and co-CEO of Salesforce, an enterprise cloud computing company. In September 2018, Benioff acquired Time.
How is Salesforce paying for Slack?
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. Salesforce said it planned to incorporate Slack's communication software into every aspect of its cloud software offerings.
Should I invest in Slack?
So, if you're asking yourself if now is a good time to buy stocks, advisors say the answer is simple, no matter what's happening in the markets: Yes, as long as you're planning to invest for the long-term, are starting with small amounts invested through dollar-cost averaging and you're investing in highly diversified ...
How will Salesforce fund the acquisition?
Salesforce expects to fund the cash consideration with cash from its balance sheet and approximately US$10 billion of proceeds from a combination of the issuance of debt securities and/or term loans. Slack stockholders must approve the deal, which is also subject to regulatory and other customary closing conditions.
What happened to my work shares?
If the buyout is an all-cash deal, shares of your stock will disappear from your portfolio at some point following the deal's official closing date and be replaced by the cash value of the shares specified in the buyout. If it is an all-stock deal, the shares will be replaced by shares of the company doing the buying.
Acquisition to create the digital HQ for success from anywhere
Companies around the world have learned one thing over the past year—if you don’t have a digital way to connect with your employees, customers, and partners, you don’t have much of a chance of surviving.
Salesforce and Slack have joined forces to create the Slack-First Customer 360
Now it’s easier than ever to connect customers, employees, and partners with the conversations, apps, and data that power digital workflows for an all-new way to work.
What companies use Slack?
Slack serves leading organizations in every industry around the world, from the fastest growing startups to Fortune 500 companies, such as Starbucks, Target and TD Ameritrade, along with leading academic institutions, non-profits, and governments in more than 150 countries.
What is Slack used for?
It’s the leading channel-based messaging platform, used by millions to align their teams, unify their systems, and drive their businesses forward. Only Slack offers a secure, enterprise-grade environment that can scale with the largest companies in the world.
Where is Salesforce located?
Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM.".
Is Slack part of Salesforce?
Upon the close of the transaction, Slack will become an operating unit of Salesforce and will continue to be led by CEO Stewart Butterfield. Combination to Form the Largest Open Ecosystem of Apps and Workflows for Business.
Does Salesforce file with the SEC?
Each of Salesforce and Slack may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the proxy statement/prospectus or registration statement or any other document that Salesforce or Slack may file with the SEC.
Where is Salesforce located?
Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM.".
Is Slack part of Salesforce?
As part of Salesforce, Slack will be positioned to accelerate and extend its mission to make work life simpler, more pleasant, and more productive. Slack will continue to operate under the Slack brand, driving forward a continued focus on its mission, customers, and community. Slack will continue to be led by CEO and Co-Founder Stewart Butterfield.
When will Salesforce acquire Slack?
By the team at Slack 1st December 2020. Salesforce (NYSE: CRM), the global leader in CRM, and Slack Technologies, Inc. (NYSE: WORK), the most innovative enterprise communications platform, have entered into a definitive agreement under which Salesforce will acquire Slack.
How does Slack work?
Only Slack offers a secure, enterprise-grade environment that can scale with the largest companies in the world. It is a new layer of the business technology stack where people can work together more effectively, connect all their other software tools and services and find the information that they need to do their best work. Slack is where work happens.
What is Salesforce CRM?
Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.
What is Slack Connect?
Slack brings people, data and tools together so that teams can collaborate and get work done, from anywhere. Slack Connect extends the benefits of Slack to enable communication and collaboration between a company’s employees and all its external partners, from vendors to customers.
What companies use Slack?
Slack serves leading organisations in every industry around the world, from the fastest growing startups to Fortune 500 companies, such as Starbucks, Target and TD Ameritrade, along with leading academic institutions, non-profits and governments in more than 150 countries.
Where is Salesforce located?
Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol ‘CRM’. For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE.
Does Salesforce file a proxy statement?
Each of Salesforce and Slack may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the proxy statement/prospectus or registration statement or any other document that Salesforce or Slack may file with the SEC. The definitive proxy statement/prospectus (if and when available) will be mailed to stockholders of Salesforce and Slack. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the registration statement and proxy statement/prospectus (if and when available) and other documents containing important information about Salesforce, Slack and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov . Copies of the documents filed with the SEC by Salesforce will be available free of charge on Salesforce’s website at www.salesforce.com/investor or by contacting Salesforce’s Investor Relations department at [email protected] . Copies of the documents filed with the SEC by Slack will be available free of charge on Slack’s website at investor.slackhq.com or by contacting Slack’s Investor Relations department at [email protected].
Who is the CEO of Slack?
Slack's co-founder and CEO Stewart Butterfield, who will continue to lead the company, called the deal "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.
How much is Slack worth?
In December, Salesforce signed a definitive agreement to acquire the popular messaging software platform Slack Technologies in a cash and stock deal worth $27.7 billion, making it Salesforce's largest-ever acquisition.
What app did Salesforce buy?
Software giant Salesforce ( CRM) officially closed on its $27.7 billion record acquisition of messaging app Slack Technologies ( WORK) on Wednesday, as the company bets big on a digital work-from-anywhere future.
Slack Stock And Salesforce Equity Dilution
At BMO Capital Markets, analyst Keith Bachman estimated that if Salesforce used $5 billion in cash in the Slack acquisition, existing equity dilution would range from 8% to 10%. That depends on whether a deal comes in at $23 billion, $25 billion or $27 billion.
Salesforce Stock: Competition From Microsoft
Growing competition with Microsoft ( MSFT) has been an overhang on Slack earnings since its direct listing in June 2019. Microsoft Teams tools and Slack's chat software aim to replace email.
