“I think the pandemic’s played a massive role” in paving the way for the deal, Ives said. But continued losses had hurt its valuation. Slack, founded in 2010, had listed last year at a valuation of 19.5 billion. She said the need for customer-relations agents and other Salesforce users to swarm around a topic and collaborate remotely has only grown with the coronavirus pandemic that has sent so many office workers home and got many hooked on new online tools. The acquisition ends Slack’s foray into the public market.
Salesforce buys slack software#
“Microsoft Teams is eating Slack’s lunch.”īut Leggett said it’s also “really good for Salesforce” to add a popular collaboration tool to its own software suite, which is focused on managing customer relationships for businesses and government agencies. “This is a stellar exit strategy for Slack,” said Kate Leggett, an analyst at Forrester Research. Before news reports of a potential deal with Salesforce surfaced last week, Slack’s stock was still hovering around its initial listing price of $26 when the company went public nearly 18 months ago. Slack, on the other hand, hasn’t proven as popular with investors, even though its service that publicly launched in 2014 is being increasingly used by companies and government agencies looking for more nimble alternatives than email. Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc. The business software deal is the largest ever acquisition by Salesforce, surpassing its 15.7 billion acquisition of Tableau Softwarelast year. This is your Daily Crunch for December 1, 2020. CRM heavyweight Salesforce on Tuesday announced a definitive agreement to acquire enterprise collaboration platform Slack.
Salesforce buys slack mac#
Salesforce was also among the companies bidding to buy LinkedIn in 2016 before Microsoft snapped it up. Salesforce announces its acquisition of Slack, Amazon brings the Mac mini to the cloud and Google Maps gets a newsfeed. Last year, the company bought data analytics specialist Tableau Software for $15.7bn.
Salesforce buys slack series#
Salesforce has been building on its success in recent years to diversify into other fields, largely through a series of acquisitions. “It’s just clear Microsoft is moving further and further away from Salesforce when it comes to the cloud wars.” “For Benioff, this is all about Microsoft,” said Wedbush Securities analyst Dan Ives. Salesforce acquired Slack because it was just impossible for them not to. Microsoft also has been posing a threat to Salesforce’s main products, a lineup of tools that help other companies manage their customer relationships. Salesforce Buys Slack For 27.7 Billion Posted On DecemGeoff Desreumaux Salesforce has acquired Slack in a 27.7 billion megadeal, marking a deeper integration into enterprise social for the CRM powerhouse.
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