Salesforce has completed its acquisition of Slack. 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.
“We couldn’t be more excited to have Slack as part of the Salesforce family, combining the #1 CRM and the trailblazing digital platform for the work anywhere world,” said Marc Benioff, Chair and CEO of Salesforce.
“Together we’ll define the future of enterprise software, creating the digital HQ that enables every organization to deliver customer and employee success from anywhere.”
Combining Slack with Salesforce Customer 360 will be transformative for customers and the industry. The combination will create the operating system for the new way to work, uniquely enabling companies to grow and succeed in the all-digital world.
Together, Salesforce and Slack 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.
“We’ve learned over the past year that the workplace isn’t snapping back to the way it was,” said Bret Taylor, President and Chief Operating Officer of Salesforce.
“Together, Slack and Salesforce Customer 360 will give every company in the world 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.”
Slack to Become the New Interface for Salesforce Customer 360
Salesforce 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. 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.
Slack will be deeply integrated into every Salesforce Cloud. As the new interface for Salesforce Customer 360, Slack will transform how people communicate, collaborate and take action on customer information across Salesforce as well as information from all of their other business apps and systems to be more productive, make smarter, faster decisions and create connected customer experiences.
Slack To Expand Enterprise Footprint
Slack serves leading organizations in every industry around the world, from the fastest growing start-ups 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.
Slack will be able to expand its presence in the enterprise, not just among Salesforce customers, but for any company undergoing digital transformation. 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
Connecting people and data across systems, apps and devices is one of the biggest challenges companies face in today’s all-digital world.
Slack’s open platform seamlessly integrates with more than 2,400 apps that people use to collaborate, communicate and get work done. With the largest enterprise app ecosystem, the Salesforce platform is the easiest way to build and deliver apps to connect with customers in a whole new way.
Together, Salesforce and Slack will create the most extensive open ecosystem of apps and workflows for business and empower millions of developers to build the next generation of apps, with clicks not code.
“We have a once-in-a-generation opportunity to rethink and reshape how and where we work,” said Stewart Butterfield, Slack CEO and Co-Founder.
“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.”
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.
The combination of Salesforce and Slack also brings together two of the software industry’s most dynamic communities, creating an open and extensive ecosystem that will deliver the next generation of digital-first apps and workflows for business.
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.
On Tuesday, August 17, 10:00 a.m. PT/1:00 p.m. ET/6:00 p.m. BST, Salesforce President and COO Bret Taylor and Slack CEO and Co-Founder Stewart Butterfield will host an event to share more about how the two companies are creating a powerful platform for the digital-first, work anywhere world. You can tune into the event here.
