When will the slack acquisition by Salesforce close?
The transaction is anticipated to close in the second quarter of Salesforce’s fiscal year 2022, subject to approval by the Slack stockholders, the receipt of required regulatory approvals and other customary closing conditions.
What is the difference between Salesforce and slack?
Salesforce is the #1 CRM that enables companies to sell, service, market and conduct commerce, from anywhere. Slack brings people, data and tools together so teams can collaborate and get work done, from anywhere.
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.
Who are the financial advisors to Salesforce and slack?
BofA Securities, Inc. is serving as exclusive financial advisor to Salesforce and Wachtell, Lipton, Rosen & Katz and Morrison & Foerster LLP are serving as legal counsel to Salesforce. Qatalyst Partners LP and Goldman Sachs & Co LLC are serving as financial advisors to Slack.
Did Slack stock become Salesforce stock?
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 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 Salesforce still buying Slack?
SAN FRANCISCO, July 21, 2021—Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc.
How much will Salesforce pay for Slack?
a $27.7 billion dollarCloud computing giant Salesforce has completed its acquisition of Slack, a $27.7 billion dollar deal that adds the messaging app to its suite of enterprise software without immediately changing Slack's functionality, branding, or leadership.
What will happen to my Slack shares?
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.
Can I still buy Slack stock?
Because Slack shares will be offered directly to the public on June 20, any reputable stockbroker with access to trade NYSE stocks can be used to buy Slack stock using the ticker symbol WORK as of that date.
Why is Slack worth $27 billion Salesforce?
So what's the deal with Salesforce's acquisition of Slack for a total of $27 Billion? By acquiring Slack, a business chat service with over 130,000 paid customers, Salesforce strengthens its portfolio of business applications and fills out its broader suite of software for new growth areas.
What is Salesforce going to do with Slack?
Together, Salesforce and Slack will deliver the Slack-first Customer 360 that gives companies a single source of truth for their business, and a single platform for connecting employees, customers, and partners with each other and the apps they use every day, all within their existing workflows.
Why would Salesforce buy Slack?
It connects your employees, your partners, your customers on a single platform and a platform that people love to use. And the Slack-First Customer 360 makes every Salesforce product more powerful and more effective for our customers.”
Is Slack a Chinese company?
Slack Technologies, LLC is an American international software company founded in 2009 in Vancouver, British Columbia, known for its proprietary communication platform Slack.
What big companies use Slack?
8809 companies reportedly use Slack in their tech stacks, including Airbnb, Shopify, and Pinterest.Airbnb.Shopify.Pinterest.Udemy.Instacart.Robinhood.Slack.LaunchDarkly.
Who owns Salesforce now?
Marc BenioffMarc Benioff is Chair, Co-CEO, and Co-Founder of Salesforce and a pioneer of cloud computing. Under Benioff's leadership, Salesforce is the #1 provider of customer relationship management (CRM) software globally and one of the world's fastest-growing enterprise software companies.
Is Slack worth $27 bn?
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. Through a combination of cash and stock, Salesforce is purchasing Slack for $26.79 a share and .
Did Salesforce pay too much for Slack?
Salesforce CRM -1% announced it will pay a whopping $27.7 billion for the business chat service, Slack Technologies. Salesforce — whose stock is up a mere 44.5% in 2020, compared to the Emerging Cloud Index's 88% pop as of December 1 — is paying too much in exchange for too little top-line growth.
How much is Slack worth now?
$27.7bnSalesforce has agreed to buy workplace messaging app Slack for $27.7bn (£20bn) in what would be one of the biggest tech mergers in recent years. Marc Benioff, boss of the business software giant, called the deal a "match made in heaven".
How much is Slack worth?
$27.7 billionIt has taken some of the shine from Slack however, which was the darling of the tech industry. From a high of $23 billion post-IPO, Slack's value dropped to $17 billion. Salesforce announced its intention to acquire Slack for $27.7 billion on December 1, 2020.
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.
Why would Salesforce buy Slack?
To maintain the high rate of growth that it has achieved for the last few years, Salesforce has been investing in various initiatives that enable it to expand its reach in customer organizations. Some of this has been happening organically, for example improving its cross-selling and upselling within each customer.
Why would Slack agree to a deal?
There have been rumors about tech companies wanting to acquire Slack for several years — arch-rival Microsoft was reportedly considering a purchase back in 2016 — for a much lower price, needless to say. However, the deal never came to anything.
An opportunity to team up against Microsoft
Overall, if they can agree on a deal, this could be a very positive and exciting move for both Slack and Salesforce, and one that would see them joining up against Microsoft — not just in business applications, where Microsoft is increasingly challenging Salesforce with its Dynamics 365 business, but in employee productivity and collaboration as well.
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.
If shareholders like the somewhat small-ish premium offered
Salesforce has signed a definitive agreement to buy Slack for $27.7bn in cash and stock, and plans to make the collaboration tool the interface for Salesforce Customer 360, the system it sells to create a single customer ID and profiles.
Salesforce reportedly poised to scoop Slack for billions
Slack’s announcement stated the combined entity “will give companies a single source of truth for their business and a unified platform for connecting employees, customers and partners with each other and the apps they use every day, all within their existing workflows.”
Acquisitions: A Core Strategy
Salesforce beat expectations for the May-July quarter as the shift to hybrid work kept demand for its cloud-based software strong.
More Room For Slack
Salesforce’s acquisition of Slack puts the company in direct competition with Microsoft Teams. At the end of Q2, Slack had 169K paid subscribers, but that’s not an apple-to-apple comparison with Teams’ 250K monthly active users, including paid and unpaid subscribers.
Is Slack a CRM?
Slack is also a work-from-home winner, which diversifies CRM's existing business. Salesforce's core customer relationship management software is for managing sales contacts, and outside sales is a pretty difficult industry right now given the general lack of contact in the economy.
Does Slack compete with Microsoft?
Their markets (and especially Slack's) face significant competition, especially from Microsoft's Teams products. Having the ability to bundle Slack with Salesforce products probably allows Slack to compete effectively with Microsoft on bundles, but seems unlikely give them a competitive hammer to dominate the market.