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Salesforce to Buy Software Maker Slack for $27.7 Billion (3)

Dec. 2, 2020, 12:27 AM

Salesforce.com Inc. agreed to buy Slack Technologies Inc. for $27.7 billion in cash and stock, giving the corporate software giant a popular workplace-communications platform in one of the biggest technology deals of the year.

The transaction, Salesforce’s largest-ever acquisition, is expected to close by the end of July, the San Francisco-based company said Tuesday in a statement. Slack investors will receive $26.78 for each company share as well as 0.0776 share of Salesforce -- representing a 55% premium to Slack’s price on Nov. 24, the day before reports about deal talks between the companies.

WATCH: Salesforce.com CEO Marc Benioff discusses the company’s decision to buy Slack Technologies Inc. for $27.7 billion.
(Source: Bloomberg)

Salesforce Chief Executive Officer...

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