Slack gains 22% on Salesforce buyout offer

Salesforce is reportedly interested in buying Slack, the popular workplace for many leading firms like Amazon has sent shares of the smaller firm up over 22% at the most recent trading session.

In a report credited to WSJ, the companies could reach a deal within days and possibly by the time Salesforce reports its third-quarter financial results, Tuesday.

The anticipated deal has got global investors excited as Slack shares gained over 37%, according to data retrieved from Bloomberg. Slack is worth $40.70 per share as of the time of writing, valuing it at around $23.22 billion.

Salesforce the world’s biggest seller of customer relationship software is led by co-founder Marc Benioff, a pioneer in providing software via the cloud through a subscription.

What this means

Slack is popularly known among many firms for its user-friendly interface. It empowers global businesses to embed workflows. Stock experts anticipate such a deal would be beneficial to well in the Salesforce family of products, which spans marketing, sales, service, and more.

However, at the time of writing of Salesforce fell around 5% as some investors in the American-based SaaS pioneer were not so delighted about such synergy or perhaps worried about the price that would be required to bring such business to Salesforce fold.



guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments