The biggest deal of the 21st century: Salesforce acquires Slack : Sakshi Agarwal
by: Sakshi Agarwal
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Salesforce, the cloud computing giant has confirmed the acquisition of the workplace chat application Slack on December 1, 2020. The acquisition money involved is a huge sum of $27.7 billion. Making it the biggest deal of the 21st century. They finally put the lid on the simmering matter of the acquisition from the past couple of months.
As per the trusted sources and the information from the market, Slack shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce common stock in exchange for the Slack shares of $27.7 billion. The numbers mentioned are directly sourced from the company’s statement.
On this big event CEO Marc Benioff has confirmed this acquisition will be for the advancement of the company and the services. The actual word he mentioned “Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it, this is a match made in heaven. Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world. I’m thrilled to welcome Slack to the Salesforce Ohana once the transaction closes,”
While Slack CEO Stewart Butterfieldahs firmly believed that the question is the move in the history of mergers and acquisitions.
“Salesforce started the cloud revolution, and two decades later, we are still tapping into all the possibilities it offers to transform the way we work. The opportunity we see together is massive. As software plays a more and more critical role in the performance of every organization; we share a vision of reduced complexity, increased power and flexibility, and ultimately a greater degree of alignment and organizational agility. Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going,” this has been stated by the CEO – Stewart Butterfield.
Slack has been in the market with a good reputation since 2009 being established in Vancouver, Canada. Within a decade of being in the market, it has gained a good hold, on the level that it has faced threats from the social media giant Facebook and the OG Google. Slack remained firm on this work and emerged as the biggest messaging platform for workplace communication.
Salesforce and Slack had the intention of providing one reliable and co expensive source for communication at the workplace and a user-interactive platform for connecting slacko-workers, clients, and partners with each other without missing out on the important notices along with the support of salesforce it surely has bacon as the important part.
“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. 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,” this the official statement given by company to the print media.
The back story
Slack was losing the competition because the two biggest tech brands Facebook and Microsoft have launched their office communication app. Through this move, Slack has faced the depreciated market value from April ’19, and since then it has not seen the good days in terms of profit particularly from the last three quarters. The company was lacking behind in the profits and Microsoft’s pressure was an insult to injury, making acquisition the only profitable option.
On the other hand, Salesforce, being the toughest competition of Microsoft in the cloud sector, with having a sound worth of $220 billion and has progressed in becoming the biggest brand on the planet, kudos to the CRM and strategies used by the salesforce for expanding the business. Both companies have a significant focus towards getting ahead from Microsoft and this acquisition justifies this vision. The coming months are going to be very crucial for this deal, stay tuned with us for more information.
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December 15, 2020 at 06:45PM
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