According to both the companies, the acquisition deal was driven by the pandemic with the $27.7 billion price tag basing on Salesforce’s closing price on Monday.
Salesforce Chief Executive Officer and co-founder, Marc Benioff has conducted over 60 acquisitions and finds the Slack’s cash-and-stock deal to be a match made in heaven. With its assistance, Salesforce will shape the future of enterprise software and make changes in workplace that will outlast the pandemic.
In a statement, Slack CEO Stewart Butterfield remarked on his enthusiasm of working under Salesforce and having a shared vision of reduced complexity, increased flexibility and power, alongside a greater degree of organizational agility and alignment.
The acquisition deal also marks a new side in Salesforce’s longstanding battle with rival Microsoft in adopting new technologies in operations and enable people work remotely.
Slack shareholders will be receiving $26.79 in cash for each share along with 0.0776 Salesforce share (per share) of Slack stock.