Salesforce Closes Acquisition of Slack for $27.7 Billion

Salesforce Closes Acquisition of Slack for $27.7 Billion

Shares of Salesforce were last trading up 0.14%, or 34 cents, near $240.45 in the pre-market. Shares of Salesforce are up 7.9% year-to-date. “Headquarters are no longer on Madison Avenue or Main Street—they are in the cloud. Every business—in every industry—has to optimize for a digital-first customer, employee, and partner experience,” the company said in its announcement.  Julia La Roche is a correspondent for Yahoo Finance. Follow her on Twitter.

In December, Salesforce signed a definitive agreement to acquire the popular messaging software platform Slack Technologies in a cash and stock deal worth $27.7 billion, making it Salesforce’s largest-ever acquisition. Last week, the Department of Justice told the company it closed its antitrust investigation of the deal, giving the green light for the transaction’s close.   “Salesforce and Slack are uniquely positioned to lead this historic shift to a digital-first world. I could not be more excited for what’s to come,” Butterfield added. 

As companies debate the future of work post-COVID, Salesforce said companies learned last year that “if you don’t have a digital way to connect with your employees, customers, and partners, you don’t have much of a chance of surviving.”  Slack’s co-founder and CEO Stewart Butterfield, who will continue to lead the company, called the deal “a once-in-a-generation opportunity to rethink and reshape how and where we work.” 

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