When will salesforce acquire slack

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When is Salesforce buying slack?

With those questions in mind, here are 16 things for investors to know:

  • The rumors all started because people familiar with the deal said Salesforce is in talks to buy Slack.
  • As a result of those rumors, WORK stock is up nearly 23% in the market.
  • CRM stock, however, is not so lucky. …
  • This is likely because any such deal would value Slack at more than its $17 billion market capitalization.

More items…

When will Salesforce acquire Slack?

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.

Is Salesforce paying too much for slack?

Slack and other instant-messaging platforms have only become more vital during the pandemic as millions of people work from home. And just last month, Salesforce announced it was buying Slack for a whopping $27.7 billion — that’s a pretty huge deal for a company that’s just seven years old.

Did Salesforce buy slack?

Salesforce.com Inc. agreed to buy messaging company Slack Technologies Inc. in a $27.7 billion deal that shows how the biggest players in cloud computing are racing to add muscle amid the pandemic’s remote-work boom.

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Has Salesforce acquisition of Slack closed?

Salesforce said Wednesday that it officially closed its blockbuster $27.7 billion acquisition of collaboration app Slack as the San Francisco tech giant aims to enter the work-from-anywhere technology arena.


What is Salesforce going to do with Slack?

Together, Salesforce and Slack will deliver the Slack-first Customer 360 that gives companies a single source of truth for their business, and a single platform for connecting employees, customers, and partners with each other and the apps they use every day, all within their existing workflows.


Was Salesforce acquisition of Slack successful?

Cloud computing giant Salesforce has completed its acquisition of Slack, a $27.7 billion dollar deal that adds the messaging app to its suite of enterprise software without immediately changing Slack’s functionality, branding, or leadership.


What will happen to Slack stock after Salesforce acquisition?

Slack Technologies (NYSE:WORK), the collaboration software firm, is the subject of a takeover bid from Salesforce (NYSE:CRM). The agreement stipulates that Slack shareholders will receive $26.79 in cash and 0.0776 Salesforce shares per share of WORK owned.


Will Slack be integrated with Salesforce?

Use Salesforce and Slack together to manage your sales pipeline or customer service more efficiently. The Salesforce app for Slack is available for all Salesforce Editions (except Salesforce Essentials) and supports Sales Cloud and Service Cloud on both the Lightning and Classic experiences.


What big companies use Slack?

8786 companies reportedly use Slack in their tech stacks, including Airbnb, Shopify, and Pinterest.Airbnb.Shopify.Pinterest.Udemy.Instacart.Robinhood.Slack.LaunchDarkly.


Why did Salesforce buy Slack for $27 billion and change?

From the company’s press release, the logic given is that Salesforce CRM enables companies to sell, service, market and conduct commerce, from anywhere. Slack brings people, data and tools together so teams can collaborate and get work done, from anywhere.


Is Slack replacing chatter?

Slack will also likely replace Salesforce’s Chatter app, as well as Anywhere, it’s real-time messaging application.


Why did Salesforce buy Slack?

As part of Salesforce, Slack will be positioned to accelerate and extend its mission to make work life simpler, more pleasant, and more productive. Slack will continue to operate under the Slack brand, driving forward a continued focus on its mission, customers, and community.


Will Slack be delisted?

Its stock, ticker WORK, started trading on June 20, 2019. The NYSE set a reference price of $26 to start off trading and the stock rose to more than $41 in the initial hours of trading. It was delisted in June 2021 after Salesforce completed is acquisition, and shareholders were given Salesforce stock.


What happens if I owned Slack stock?

Under the terms of the agreement, Slack shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share, representing an enterprise value of approximately $27.7 billion based on the closing price of Salesforce’s common stock on 30th November 2020.


Should I invest in Slack?

So, if you’re asking yourself if now is a good time to buy stocks, advisors say the answer is simple, no matter what’s happening in the markets: Yes, as long as you’re planning to invest for the long-term, are starting with small amounts invested through dollar-cost averaging and you’re investing in highly diversified …


What companies use Slack?

Slack serves leading organizations in every industry around the world, from the fastest growing startups to Fortune 500 companies, such as Starbucks, Target and TD Ameritrade, along with leading academic institutions, non-profits, and governments in more than 150 countries.


What is Slack Connect?

Slack Connect extends the benefits of Slack to enable communication and collaboration between a company’s employees and all its external partners, from vendors to customers. Slack will be deeply integrated into every Salesforce Cloud.


How does Slack work?

Only Slack offers a secure, enterprise-grade environment that can scale with the largest companies in the world. It is a new layer of the business technology stack where people can work together more effectively, connect all their other software tools and services, and find the information they need to do their best work. Slack is where work happens.


Where is Salesforce located?

Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol “CRM.”. For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE. December 1, 2020.


Is Slack part of Salesforce?

As part of the world’s #1 CRM, Slack will be able to expand its presence in the enterprise, not just among Salesforce customers, but for any company undergoing digital transformation. Upon the close of the transaction, Slack will become an operating unit of Salesforce and will continue to be led by CEO Stewart Butterfield.


Does Salesforce file a proxy statement?

Each of Salesforce and Slack may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the proxy statement/prospectus or registration statement or any other document that Salesforce or Slack may file with the SEC. The definitive proxy statement/prospectus (if and when available) will be mailed to stockholders of Salesforce and Slack. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the registration statement and proxy statement/prospectus (if and when available) and other documents containing important information about Salesforce, Slack and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Salesforce will be available free of charge on Salesforce’s website at www.salesforce.com/investor or by contacting Salesforce’s Investor Relations department at investor@salesforce.com. Copies of the documents filed with the SEC by Slack will be available free of charge on Slack’s website at investor.slackhq.com or by contacting Slack’s Investor Relations department at ir@slack.com.


When will Salesforce acquire Slack?

By the team at Slack December 1st, 2020. Salesforce (NYSE: CRM), the global leader in CRM, and Slack Technologies, Inc. (NYSE: WORK), the most innovative enterprise communications platform, have entered into a definitive agreement under which Salesforce will acquire Slack.


What companies use Slack?

Slack serves leading organizations in every industry around the world, from the fastest growing startups to Fortune 500 companies, such as Starbucks, Target and TD Ameritrade, along with leading academic institutions, non-profits, and governments in more than 150 countries.


What is Salesforce CRM?

Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.


How does Slack work?

Only Slack offers a secure, enterprise-grade environment that can scale with the largest companies in the world. It is a new layer of the business technology stack where people can work together more effectively, connect all their other software tools and services, and find the information they need to do their best work. Slack is where work happens.


Where is Salesforce located?

Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol “CRM.”. For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE.


Does Salesforce file a proxy statement?

Each of Salesforce and Slack may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the proxy statement/prospectus or registration statement or any other document that Salesforce or Slack may file with the SEC. The definitive proxy statement/prospectus (if and when available) will be mailed to stockholders of Salesforce and Slack. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the registration statement and proxy statement/prospectus (if and when available) and other documents containing important information about Salesforce, Slack and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov . Copies of the documents filed with the SEC by Salesforce will be available free of charge on Salesforce’s website at www.salesforce.com/investor or by contacting Salesforce’s Investor Relations department at investor@salesforce.com . Copies of the documents filed with the SEC by Slack will be available free of charge on Slack’s website at investor.slackhq.com or by contacting Slack’s Investor Relations department at ir@slack.com.


Is Slack part of Salesforce?

As part of the world’s #1 CRM, Slack will be able to expand its presence in the enterprise, not just among Salesforce customers, but for any company undergoing digital transformation. Upon the close of the transaction, Slack will become an operating unit of Salesforce and will continue to be led by CEO Stewart Butterfield.


A transformed world of work

Over the past year, we’ve embraced the power of flexibility. Every business in every industry now has to evolve to meet their customers, employees and partners in a digital-first world. We know that with the right tools, we can be productive from anywhere—and this is our opportunity to reshape everything about how and where we work.


A more powerful platform

With this digital-first shift, it’s critical that we stay aligned and connected across our people and information, which can be challenging given the proliferation of software and tools within most enterprise organizations.


A note of appreciation

As head of product for Slack’s developer platform, I have an unusual perspective on our joining Salesforce: I previously sold a process-automation software company to Salesforce and helped build the go-to-market strategy for the Salesforce platform.


Product Roadmap

The Salesforce ecosystem of products has grown larger and more complex over the years (largely driven by the aforementioned acquisition strategy) and a major challenge that comes with this type of SaaS portfolio expansion is building the communication layer that sits between all applications.


Gives Salesforce Access to the SMB market

While Salesforce has always served earlier-stage organizations in the SMB market, they don’t often release products specifically targeting this segment.


Slack Developer and 3rd Party App Ecosystem

When it comes to the top 3rd party APIs being used to connect a company’s internal tools, Slack was used by 37% of respondents in a recent study on internal apps – #3 behind only GitHub and AWS. (Salesforce was 9th on the list with 16%.)


Competition with Microsoft

Microsoft has been a dominant player in consumer & enterprise technology for decades and the sheer scale of their user base afford them massive advantages.


What will Salesforce do with Slack?

Salesforce has a mixed track record with post-acquisition integration.


Slack to Salesforce Integration Overview

There is already huge value in connecting your Slack and Salesforce instance, which can be done through native integrations, using tools like Zapier, or with custom API development for more complex, bidirectional syncs.


When did Slack go public?

If completed, the acquisition will end Slack’s brief run as an independent publicly traded company — it went public in mid-2019 — and cap an acquisitive streak by Salesforce with its largest deal since it was founded 21 years ago.


How much did Salesforce pay for Vlocity?

In February, Salesforce paid $1.3 billion for Vlocity, a mobile software provider. Last year, it bought Tableau, a data analytics provider, for $15.3 billion; in 2018, it bought MuleSoft, a data integration company, for $6.5 billion; and in 2016, it bought Demandware, an e-commerce software maker, for $2.8 billion.


Where is Salesforce headquarters?

Marc Benioff, Salesforce’s chief executive, told analysts in August that the company was not seeking acquisitions. The company has its headquarters at Salesforce Tower in San Francisco.


Is Slack an open platform?

On Tuesday, Mr. Butterfield tweeted that Slack would remain “an independent and open platform” and said its mission had not changed.


Is Salesforce integrating Slack?

Salesforce said it planned to incorporate Slack’s communication software into every aspect of its cloud software offerings. Marc Benioff, the chief executive of Salesforce, was effusive about the combination, calling it “a match made in heaven.”. In a conference call, he said that Stewart Butterfield, Slack’s chief executive, and Bret Taylor, …


Does Slack hurt its business?

Layoffs at some of its customers have hurt its business, the company said. On Tuesday, Slack reported that revenue grew 39 percent in the three months ending with October. At the same time, Slack has faced increasing competitive pressure from Microsoft.


Who bought Mindville?

Adobe said last month that it planned to acquire the work force management software company Workfront for $1.5 billion. In July, Atlassian, which sells tools for developers and project management, said it would buy the enterprise services business Mindville for an undisclosed amount.

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