Salesforce has confirmed that the multi-billion dollar acquisition of Slack has been officially completed.
The Customer Relationship Management (CRM) giant confirmed the news in a press release, saying that the combination of Salesforce and Slack is “creating the business operating system for the new world of work”.
News of a potential acquisition first broke in December 2020, when Salesforce entered into a definitive agreement to acquire the communications and collaboration platform for approximately $27.7 billion.
In the announcement, Salesforce said Slack will continue to be able to “accelerate and extend” its mission to make work life easier, more enjoyable and more productive. The platform will remain under the Slack brand and retain its CEO and co-founder, Stewart Butterfield.
The acquisition was made on a cash-and-stock basis, with Slack shareholders receiving approximately $26 in cash and 0.0776 Salesforce common stock for each Slack share they own.
Working wave at a distance
Acquiring Slack has long been a priority for Salesforce CEO Marc Benioff, despite concerns about the company’s valuation.
“We’ve learned over the past year that the workplace isn’t going to be the way it used to be,” said Bret Taylor, Salesforce President and Chief Operating Officer. “Together, Slack and Salesforce Customer 360 will give every company in the world a single source of truth for their business and a single platform to connect employees, customers and partners with each other and the apps they use every day.”
Salesforce is expected to deeply integrate Slack with its Salesforce Customer 360, where it will act as an all-new interface.