. World News – CA – Salesforce is in talks to buy Slack. The deal could be announced next week

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Salesforce is in talks to acquire Slack and a deal could be announced as early as next week, according to a person familiar with the business matter.

Shares in Slack rose as much as 32% on Wednesday after the Wall Street Journal first reported that Salesforce had held talks to buy the company. Salesforce stock fell roughly 4% on the news. The company is expected to release its third quarter results next week in December. 1.

It’s unclear how much the business would be worth, but Slack’s market cap surged over $ 20 billion, according to the WSJ’s original report.

Salesforce was on an acquisition path and used the growth in market capitalization in recent years to buy growing companies. MuleSoft bought it for $ 6. 5 billion in 2018, the company’s largest business to date to support cloud application connectivity. The following year, the company spent more than double that on Tableau and acquired the data visualization company for $ 15. 3 billion.

Slack would be one of the biggest software deals in the industry. It would add to IBM’s $ 34 billion purchase of Red Hat in 2019, Microsoft’s $ 27 billion purchase of LinkedIn in 2016, and Facebook’s $ 19 billion purchase of WhatsApp in 2014 belong.

« For Benioff this would be & Co. . Wedbush Securities’ Dan Ives told CNBC, referring to Salesforce CEO Marc Benioff to continue building the collaboration engine and product footprint as cloud spending increases across the company.

The stocks of Microsoft, which compete with Slack through their team offering, also made light appearances on the report.

Microsoft is already competing with Salesforce on customer tracking software. Microsoft reportedly wanted to buy Salesforce, but no deal came about. Microsoft later launched the team communication app.

« Our main competitor right now is Microsoft Corporation, » said Slack when it wanted to become a public company in 2019. Microsoft has a large customer base that could be converted to Teams, and Salesforce could give Slack a similar advantage.

Slack last said in October 2019 that there were more than 12 million daily active users.

Data is a real-time snapshot * Data is delayed for at least 15 minutes. Global business and financial news, stock prices, and market data and analysis.

Salesforce, Slack Technologies, Stocks, Cloud Computing, Customer Relationship Management, NYSE: CRM

World News – CA – Salesforce is in talks to buy Slack. The deal could be announced next week

Ref: https://www.cnbc.com

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