Friday, April 19, 2024
HomeNewsSalesforce Completed Its $27.7 Billion Slack Acquisition Deal

Salesforce Completed Its $27.7 Billion Slack Acquisition Deal

Salesforce recently announced that it had completed its $27.7 billion slack acquisition deal. The deal has finally closed after a wait of more than seven months. The deal was first announced by Salesforce back in 2020. Slack is a software startup that specializes in developing business communication platforms. 

With this acquisition, Salesforce plans to work on its vision of social enterprise and develop new solutions for the new virtual workplace ecosystem caused due to the ongoing COVID-19 pandemic. 

Co-founder and CEO of Salesforce, Marc Benioff, said, “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.” 

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This acquisition will help Salesforce to enhance its video calling and instant messaging platform considering the rising competition in the market from players like Microsoft with its ‘Teams’ platform and Adobe with ‘Workfront.’ 

Chief Executive Officer of Slack, Stewart Butterfield, said, “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.” 

He further added that he believes this acquisition as one of the greatest in the history of software. He is very excited about working with the Salesforce team to develop new artificial intelligence-powered platforms. Slack’s team will now have access to Salesforce’s highly experienced engineers and will be able to expand its customer base using Salesforce’s global presence. 

Slack Technologies was founded in 2009 by Eric Costello, Stewart Butterfield, and Cal Henderson in Vancouver, Canada. The company was earlier known as Tiny Speck and currently has a market valuation of more than $7 billion.

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Dipayan Mitra
Dipayan Mitra
Dipayan is a news savvy writer, who does not leave a single page of news paper unturned. He is also a professional vocalist who enjoys ghazals. Building a dog shelter is his forever dream.


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