Salesforce agreed to buy messaging app Slack

Salesforce has agreed to buy the workplace messaging app Slack for $27.7bn (£20bn).

“Match made in heaven” is how Marc Benioff, boss of Salesforce, called the deal. The acquisition comes as the pandemic has increased the focus on remote work and tools, like Slack, which enables it.

Head of Slack Stuart Butterfield said it was “the most strategic combination in a software history, and I can’t wait to get started.”

Under the terms of the Salesforce deal, Slack shareholders are to receive $26.79 in cash per share – roughly what they were worth at the beginning of November before rumors of the acquisition pushed the price per share to more than $43 as of Tuesday.

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