Salesforce bags Slack in a $27.7B megadeal
By MYBRANDBOOK
Salesforce has announced that it is wading deeper into enterprise social by acquiring Slack in a $27.7 billion megadeal. Rumors of a pending deal surfaced last week, causing Slack’s stock price to spike.
Salesforce co-founder and CEO Marc Benioff didn’t mince words on his latest purchase. “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,” Benioff said in a statement.
Slack CEO 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. Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going.”
Slack’s current valuation, according to both Yahoo and Google Finance, is just over $25 billion, which, given its very modest price change after-hours means that the market priced the company somewhat effectively. Slack is up around 48% from its valuation that preceded the deal becoming known.
The new deal also puts Salesforce more on par — and in competition — with its arch rival and sometime friend Microsoft, whose Teams product has been directly challenging Slack in the market. Microsoft, which passed on buying Slack in the past for a fraction of what Salesforce is paying today, has made Teams a key priority in recent quarters, loathe to cede any portion of the enterprise software market to another company.
Slack’s ability to integrate with other enterprise software, has put it apart from the pack. When you combined that with bots, those intelligent digital helpers, the company could potentially provide Salesforce customers with a central place to work without changing focus because everything they need to do can be done in Slack.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
ICONS OF INDIA : ROSHNI NADAR MALHOTRA
Roshni Nadar Malhotra is the Chairperson of HCLTech, a leading global ...
ICONS OF INDIA : SACHIN BANSAL
Sachin Bansal is an Indian entrepreneur. He is best known as the found...
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
EESL - Energy Efficiency Services Limited
EESL is uniquely positioned in India’s energy sector to address ener...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...