Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going.
#Slack merger software
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. The opportunity we see together is massive. 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. I’m thrilled to welcome Slack to the Salesforce Ohana once the transaction closes.Īnd from Slack's Butterfield (who previously founded photo-sharing website Flickr and the failed gaming platform Glitch): 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. and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it.
Here's the word from Salesforce CEO Marc Benioff: After market close today, shares were up to $43.84.Īs is usually the case with announcements like this, executives from both companies released statements. Slack's valuation on the market leaped dramatically since the rumors of the acquisition broke in early November, the company's shares were valued as low as $24.10. The company has struggled on its profitability path, and its valuation has fluctuated since the IPO but has rarely grown significantly beyond its initial price. Advertisementįurther Reading What Slack is doing to our offices-and our mindsSlack, on the other hand, has struggled somewhat since its initial public offering (IPO) last year, despite the COVID-19 pandemic accelerating a remote-work revolution that one would expect to benefit a remote communications tool for businesses. Microsoft runs arguably the most significant Slack competitor, Microsoft Teams, but Salesforce had not matched either Slack or Teams with an equivalent offering. Salesforce is in a fierce competition with Microsoft to win over businesses that are in the market for cloud-based services and products. The mutual benefits for Slack and Salesforce as businesses are clear, even if it's wait-and-see in terms of any benefits or downsides for users and customers. The deal could be reviewed by the incoming Biden administration. The second quarter of Salesforce's fiscal year 2022 will end on July 31, 2021.
"The transaction is anticipated to close in the second quarter of Salesforce's fiscal year 2022, subject to approval by the Slack stockholders, the receipt of required regulatory approvals, and other customary closing conditions," Salesforce's announcement said. While Salesforce and Slack signed a definitive merger agreement, the deal is not final. New features and development priorities or adjusted pricing models are possibilities, but we also don't yet know when any user-relevant changes related to this acquisition will actually take place, either. "Slack will be deeply integrated into every Salesforce Cloud" and will become "the new interface for Salesforce Customer 360," the press release says.īut anything else beyond that is speculation at this point.
Salesforce is sure to include Slack in some of its broader bundles, and to more tightly integrate Slack with its other software services. Further Reading Slack says Microsoft is up to its old tricks, “browser-war” styleNeither company has yet to announce in any detail what this will mean for users and customers.
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