In an interview with Goldman Sachs, Marc Benioff, CEO and founder of Salesforce, outlined his strategy. Each of Salesforce and Slack may also file other relevant documents with the SEC regarding the proposed transaction. Salesforce has now officially completed its Slack acquisition, nearly eight months after first announcing plans to acquire the team communication platform for a whopping $27.7 billion. "Together we'll define the future of enterprise software, creating the digital HQ that enables every organization to deliver customer and employee success from anywhere. The total enterprise value of the proposed acquisition has been pegged at $27.7 billion. Together, they will deliver the Slack-first customer 360 that gives businesses a . View source version on businesswire.com: Slack has transformed the way we work with its trailblazing digital platform for business communication, which is used by millions of people around the world and enables entire organizations to work far more efficiently and effortlessly. This communication relates to a proposed business combination transaction between Salesforce.com, Inc. (Salesforce) and Slack Technologies, Inc. (Slack). Salesforce and Slack are already making a huge difference. A few days later, Salesforce confirmed that it would offer a combined cash and stock package worth about $27 Bn to acquire Slack, which would make it the 2 nd largest software company. Slack will continue to be led by CEO and Co-Founder Stewart Butterfield. FAQs About Salesforce's Acquisition of Slack, The Future of Work at Salesforce: Digital, Human and Connected, Sign up to get news alerts, behind-the-scenes insights, and research from Salesforce News & Insights, By subscribing, you confirm that you agree to the processing of your personal data by Salesforce as described in the Privacy Statement, Copyright 2022 Salesforce, inc.All rights reserved. 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. Latham & Watkins LLP and Goodwin Procter LLP are serving as legal counsel to Slack. He has helped lead the successful integration of Slack into Salesforce and . At Second Eclipse we use both Salesforce and Slack, and believe this acquisition is going to be great for B2B companies focused on growth. Together, Salesforce and Slack are creating the digital HQ for success from anywhere. But the market has been abuzz with the news of its $27.7 billion acquisition of Slack. 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." As the new interface for Salesforce Customer 360, Slack will transform how people communicate, collaborate and take action on customer information across Salesforce as well as information from all of their other business apps and systems to be more productive, make smarter, faster decisions and create connected customer experiences. Analysis of a megadeal: Salesforce takes the fight to Microsoft. Thats exactly what the combination of Salesforce and Slack is all aboutcreating the business operating system for the new world of work. Salesforce Completes Acquisition of Slack, Sign up to get news alerts, behind-the-scenes insights, and research from Salesforce News & Insights, By subscribing, you confirm that you agree to the processing of your personal data by Salesforce as described in the Privacy Statement, Copyright 2022 Salesforce, inc.All rights reserved. As part of the worlds #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. for a $10.0 billion senior unsecured 364-day bridge loan facility, subject to customary conditions. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com. pr@Slack.com, Jesse Hulsing Salesforce's acquisition of Slack puts the company in direct competition with Microsoft Teams. Slack brings people, data and tools together so teams can collaborate and get work done, from anywhere. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com. IBMs 380,000 employees are working together in Slack, with numerous workflows across Salesforce Sales Cloud and Service Cloud powering customer success across locations and time zones. On Tuesday, August 17, 10:00 a.m. PT/1:00 p.m. ET/6:00 p.m. BST, Salesforce President and COO Bret Taylor and Slack CEO and Co-Founder Stewart Butterfield will host an event to share more about how the two companies are creating a powerful platform for the digital-first, work anywhere world. Additional Information about the Merger and Where to Find It. The combination of Salesforce and Slack also brings together two of the software industrys most dynamic communities, creating an open and extensive ecosystem that will deliver the next generation of digital-first apps and workflows for business. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com. Salesforce CEO Marc Benioff says the software giant's upcoming $27.7 billion acquisition of messaging app Slack Technologies will help the cloud company become "a key leader in the future of work.""We're going to rebuild all of our technology, once again, to become Slack-first to help our customers have a harness to work in this new world where you're working at home; you're working in the . Salesforce undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by law. 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. The U.S. Justice Department's Antitrust Division has asked Salesforce and Slack for more information ahead of Salesforce's plan to buy the smaller software company for $27 billion,. Anytime a company is sold for $27.7 billion, there undoubtedly will be ripples felt throughout the market for a good long while. It has been two years since it was acquired by Salesforce. Learn how Slack and Salesforce bring you closer to your customers in a whole new way. Slack will continue to be led by CEO and Co-Founder Stewart Butterfield. But the market has been abuzz with the news of its $27.7 billion acquisition of Slack. Salesforce's Financials Salesforce's revenues for the third quarter grew 20% to $5.42 billion, above. For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE. Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. Youre invited! Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc. We couldnt be more excited to have Slack as part of the Salesforce family, combining the #1 CRM and the trailblazing digital platform for the work anywhere world, said Marc Benioff, Chair and CEO of Salesforce. This is a match made in heaven. Thats exactly what the combination of Salesforce and Slack is all aboutcreating the business operating system for the new world of work. Slack is where work happens. Personally, I believe this is the most strategic combination in the history of software, and I cant wait to get going.. Salesforce's Financials Salesforce's revenues for the third quarter grew 20% to $5.42 billion, above analyst estimates of $5.25 billion. Salesforce will create a modern workspace that enables collaboration, communities, Information about the directors and executive officers of Salesforce, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Salesforces proxy statement for its 2020 Annual Meeting of Stockholders, which was filed with the SEC on May 1, 2020, and Salesforces Annual Report on Form 10-K for the fiscal year ended January 31, 2020, which was filed with the SEC on March 5, 2020, as well as in a Form 8-K filed by Salesforce with the SEC on June 1, 2020. Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360 view of their customers. Every businessin every industryhas to optimize for a digital-first customer, employee, and partner experience. The solution enables organisations to better leverage the tools without having to . 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 for connecting employees, customers, and partners with each other and the apps they use every day., We have a once-in-a-generation opportunity to rethink and reshape how and where we work, said Stewart Butterfield, Slack CEO and Co-Founder. Slack is where work happens. Cross-sell Slack to Salesforce's existing customer base (150k+ companies) Bundle Slack when selling to new Salesforce customers (free / discounted) This is mutually beneficial for Salesforce, because it'll increase retention and average contract value / ARPA for these customers who opt to buy Slack. The company is currently growing revenue about 50% annually . "Salesforce and Slack coming together will help us become more connected, more productive, and more innovative so we can better serve our clients. This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. These are the details. and JPMorgan Chase Bank, N.A. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the combined companies or the price of Salesforce or Slack stock. The combination will create the operating system for the new way to work, uniquely enabling companies to grow and succeed in the all-digital world. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Salesforce today introduces the "Slack-First Customer 360," its new vision for sales, service and marketing in the work-anywhere world of the Vaccine Economy, founded on its $28 billion acquisition of messaging platform Slack, which closed last month. Together, Salesforce and Slack will create the most extensive open ecosystem of apps and workflows for business and empower millions of developers to build the next generation of apps, with clicks not code. The number of paid customers spending greater than $100,000 annually accelerated during the quarter, up 41% By. Further information on these and other risks and uncertainties relating to Salesforce can be found in its reports filed on Forms 10-K, 10-Q and 8-K and in other filings Salesforce makes with the Securities and Exchange Commission from time to time and available at www.sec.gov. Why is Slack such a great move for Salesforce? The Department of Justice is seeking more information about Salesforce's proposed $27.7 billion acquisition of Slack, according to an SEC filing Tuesday. Estimated Reading Time: 2 minutes In December 2020, Salesforce announced the multibillion-dollar acquisition of Slack. Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360 view of their customers. Salesforce SAN FRANCISCO, July 21, 2021 /PRNewswire/ --Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc. "We couldn't be more excited to have Slack as part of the Salesforce family, combining the #1 CRM and the trailblazing digital platform for the work anywhere world," said Marc Benioff, Chair and CEO of Salesforce. 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. Its the leading channel-based messaging platform, used by millions to align their teams, unify their systems, and drive their businesses forward. Salesforce has completed its acquisition of Slack Technologies after nearly eight months of announcing its plan. Upon the close of the transaction, Slack will become an operating unit of Salesforce and will continue to be led by CEO Stewart Butterfield. Now, with the acquisition of Slack, Salesforce has access to Slack Connect, which allows internal employees to communicate not only across their enterprise in one single platform but with. This communication contains forward-looking information related to Salesforce, Slack and the acquisition of Slack by Salesforce that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc. "We couldn't be more excited to have Slack as part of the Salesforce family, combining the #1 CRM and the trailblazing digital platform for the work anywhere world," said Marc Benioff, Chair and CEO of Salesforce. As part of Salesforce, Slack will be positioned to accelerate and extend its mission to make work life simpler, more pleasant and more productive. The Slack shares subject to the agreement represent approximately 55% of the current outstanding voting power of the Slack common stock. Investor Relations Slack loses money now, but Salesforce is paying for what it could become. Salesforce's acquisition of Slack this week for $27.7B is a blockbuster that both the tech community and Wall Street have been dissecting since its announcement on Tuesday. Salesforce is the #1 CRM that enables companies to sell, service, market and conduct commerce, from anywhere. "Salesforce will create a modern workspace that enables collaboration, communities, communications, CRM functionality, customer experience, and AI in an ecosystem that will welcome other integrations to extend enterprise functionality," said Wayne Kurtzman, IDC Research Director for Social, Communities, and Collaboration. As software plays a more and more critical role in the performance of every organization, we share a vision of reduced complexity, increased power and flexibility, and ultimately a greater degree of alignment and organizational agility. With the world's #1 CRM, companies can sell, service, market, conduct commerce, and more from anywhere. Evaluating the Salesforce Acquisition of Slack Image credit: salesforce.com On July 21, 2021, Salesforce completed its acquisition of Slack Technologies, Inc. in a move that should serve to strengthen both entities. We breakdown why the Slack Salesforce Acquisition is good for the CRM giant's product roadmap, helps compete with Microsoft, and more. Salesforce and Slack are uniquely positioned to lead this historic shift to a digital-first world. With the largest enterprise app ecosystem, the Salesforce platform is the easiest way to build and deliver apps to connect with customers in a whole new way. Information about the directors and executive officers of Slack, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Slacks proxy statement for its 2020 Annual Meeting of Stockholders, which was filed with the SEC on May 5, 2020, and Slacks Annual Report on Form 10-K for the fiscal year ended January 31, 2020, which was filed with the SEC on March 12, 2020. 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 athttp://www.sec.gov. In connection with the proposed transaction, Salesforce intends to file with the SEC a registration statement on Form S-4 that will include a proxy statement of Slack and that also constitutes a prospectus of Salesforce. Customers who purchase Salesforce applications should make their purchase decisions based upon features that are currently available. For Q2, Slack's standalone revenues stood at $273.4M, up 36% Y-o-Y. 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. SAN FRANCISCO, July 21, 2021Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc. "We couldn't be more excited to have Slack as part of the Salesforce family, combining the #1 CRM and the trailblazing digital platform for the work anywhere world," saidMarc Benioff, Chair and CEO of Salesforce. I could not be more excited for what's to come. Various trademarks held by their respective owners. Many investors felt Slack has been mispriced for some time as one of the only tech plays that hadn't seen a surge in. As part of the worlds #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. The acquisition, announced Tuesday, is Salesforce's latest assault on . ", "We are obsessed with continually delighting our clients, and offering them the best experience and value across every interaction," said Arvind Krishna, Chairman and CEO of IBM. Butterfield is leaving Salesforce, the company that acquired Slack for $27.7 billion last year, after less than two years at Salesforce. Headquarters are no longer on Madison Avenue or Main Streetthey are in the cloud. "Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it, said Marc Benioff, Chair and CEO, Salesforce. Slack has transformed the way we work with its pioneering digital platform for business communication, which is used by millions of people around the world and enables entire organizations to work far more efficiently and effortlessly. 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 November 30, 2020. News of Butterfield's departure, announced in a Slack . Copies of the documents filed with the SEC by Slack will be available free of charge on Slacks website atinvestor.slackhq.comor by contacting Slacks Investor Relations department atir@slack.com. On Tuesday, August 17, 10:00 a.m. PT/1:00 p.m. ET/6:00 p.m. BST, Salesforce President and COO Bret Taylor and Slack CEO and Co-Founder Stewart Butterfield will host an event to share more about how the two companies are creating a powerful platform for the digital-first, work anywhere world. A Salesforce spokesperson told in a company statement to TechCrunch today, "Stewart is an incredible leader who created an amazing, beloved company in Slack. Salesforce acquired Slack for US$27 billion in December 2020, and Taylor played a key role in the acquisition. While the list of factors presented here is, and the list of factors to be presented in the registration statement on Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. On Tuesday, August 17, 10:00 a.m. PT/1:00 p.m. ET/6:00 p.m. BST, Salesforce President and COO Bret Taylor and Slack CEO and Co-Founder Stewart Butterfield will host an event to share more about . "We couldn't be more excited to have Slack as part of the Salesforce family, combining the #1 CRM and the trailblazing digital . In this post, we analyze every angle of this deal from the perspective of the three . Cloud computing company Salesforce is acquiring workplace messaging platform Slack in a $27.7 billion megadeal. 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." Salesforce Completes Acquisition of Slack July 21, 2021 Together, Salesforce and Slack are creating the digital HQ for success from anywhere SAN FRANCISCO, July 21, 2021 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc. If Salesforce acquires Slack, it would finally gain momentum in the rivalry against Microsoft. About SalesforceSalesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360 view of their customers. Risks and uncertainties include, but are not limited to: the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; the effect of the transaction on the ability of Salesforce or Slack to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom Salesforce or Slack do business, or on Salesforces or Slacks operating results and business generally; Salesforces ability to successfully integrate Slacks operations and realize expected synergies; the impact of, and actions Salesforce may take in response to, the COVID-19 pandemic, related public health measures and resulting economic downturn and market volatility; Salesforces ability to maintain security levels and service performance meeting the expectations of its customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; the expenses associated with Salesforces data centers and third-party infrastructure providers; Salesforces ability to secure additional data center capacity; Salesforces reliance on third-party hardware, software and platform providers; the effect of evolving domestic and foreign government regulations, including those related to the provision of services on the Internet, those related to accessing the Internet, and those addressing data privacy, cross-border data transfers and import and export controls; current and potential litigation involving Salesforce or its industry, including litigation involving acquired entities, and the resolution or settlement thereof; regulatory developments and regulatory investigations involving Salesforce or affecting its industry; Salesforces ability to successfully introduce new services and product features, including any efforts to expand its services; the success of Salesforces strategy of acquiring or making investments in complementary businesses, joint ventures, services, technologies and intellectual property rights; Salesforces ability to complete, on a timely basis or at all, announced transactions; Salesforces ability to realize the benefits from acquisitions, strategic partnerships, joint ventures and investments; Salesforces ability to successfully integrate acquired businesses and technologies; Salesforces ability to compete in the market in which it participates; the success of Salesforces business strategy and its plan to build its business, including its strategy to be a leading provider of enterprise cloud computing applications and platforms; Salesforces ability to execute its business plans; Salesforces ability to continue to grow unearned revenue and remaining performance obligation; the pace of change and innovation in enterprise cloud computing services; the seasonal nature of Salesforces sales cycles; Salesforces ability to limit customer attrition and costs related to those efforts; the success of Salesforces international expansion strategy; the demands on Salesforces personnel and infrastructure resulting from significant growth in its customer base and operations, including as a result of acquisitions; Salesforces ability to preserve its workplace culture, including as a result of its decisions regarding its current and future office environments or work-from-home policies; Salesforces dependency on the development and maintenance of the infrastructure of the Internet; Salesforces real estate and office facilities strategy and related costs and uncertainties; fluctuations in, and its ability to predict, its operating results and cash flows; the variability in Salesforces results arising from the accounting for term license revenue products; the performance and fair value of Salesforces investments in complementary businesses through its strategic investment portfolio; the impact of future gains or losses from Salesforces strategic investment portfolio, including gains or losses from overall market conditions that may affect the publicly traded companies within its strategic investment portfolio; Salesforces ability to protect its intellectual property rights; Salesforces ability to develop its brands; the impact of foreign currency exchange rate and interest rate fluctuations on its results; the valuation of its deferred tax assets and the release of related valuation allowances; the potential availability of additional tax assets in the future; the impact of new accounting pronouncements and tax laws; uncertainties affecting Salesforces ability to estimate its tax rate; uncertainties regarding Salesforces tax obligations in connection with potential jurisdictional transfers of intellectual property, including the tax rate, the timing of the transfer and the value of such transferred intellectual property; uncertainties regarding the effect of general economic and market conditions; the impact of geopolitical events; uncertainties regarding the impact of expensing stock options and other equity awards; the sufficiency of Salesforces capital resources; Salesforces ability to comply with its debt covenants and lease obligations; and the impact of climate change, natural disasters and actual or threatened public health emergencies, including the ongoing COVID-19 pandemic. Roughly seven months later, the acquisition is complete, and the future landscape is more evident. CRM leader Salesforce (NYSE: CRM) and enterprise communications platform company Slack Technologies, Inc. (NYSE: WORK) have entered into a definitive agreement under which Salesforce will acquire Slack. The forward-looking statements included in this communication are made only as of the date hereof. Streamlined external communication Qatalyst Partners LP and Goldman Sachs & Co LLC are serving as financial advisors to Slack. Slack and the Slack logo are trademarks of Slack Technologies, Inc. or its subsidiaries in the U.S. and/or other countries. Slack and the Slack logo are trademarks of Slack Technologies, Inc. or its subsidiaries in the U.S. and/or other countries. https://www.businesswire.com/news/home/20201201006156/en/, Evan Goldstein While the list of factors presented here is, and the list of factors to be presented in the registration statement on Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Following the completion of the antitrust probe, Salesforce now anticipates to close Slack's acquisition on or about Jul 21. This strategy effectively produces a moat around their products by leveraging network effects. Various trademarks held by their respective owners. 917-297-8988 This communication relates to a proposed business combination transaction between Salesforce.com, Inc. (Salesforce) and Slack Technologies, Inc. (Slack). Salesforce has announced that they will purchase Slack, the highly popular business communication platform that revolutionized virtual workspaces, for $27.7B. 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. This will be a little bit different, the way I'm going to talk about Slack because they have that acquisition by Salesforce that is in the works. Salesforce has obtained a commitment from Citigroup Global Markets Inc., Bank of America, N.A. Public Relations IBM's 380,000 employees are working together in Slack, with numerous workflows across Salesforce Sales Cloud and Service Cloud powering customer success across locations and time zones. Slack To Expand Enterprise Footprint as Part of the Worlds #1 CRM. Salesforce and Slack have entered into a definitive agreement under which Salesforce will acquire Slack for $27.7 billion. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to Salesforces and Slacks respective periodic reports and other filings with the SEC, including the risk factors identified in Salesforces and Slacks most recent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Combination of #1 CRM platform with the most innovative enterprise communications platform will create the operating system for the new way to work, enabling companies to grow and succeed in the all-digital world. With the worlds #1 CRM, companies can sell, service, market, conduct commerce, and more from anywhere. The Slack shares subject to the agreement represent approximately 55% of the current outstanding voting power of the Slack common stock. This is a once-in-a-generation opportunity to rethink and reshape everything about how and where we work. At the end of Q2, Slack had 169K paid subscribers, but that's not an apple-to-apple comparison with Teams' 250K monthly active users, including paid and unpaid subscribers. This is a once-in-a-generation opportunity to rethink and reshape everything about how and where we work. 2 min read Software giant Salesforce ( CRM) officially closed on its. As software plays a more and more critical role in the performance of every organization, we share a vision of reduced complexity, increased power and flexibility, and ultimately a greater degree of alignment and organizational agility. 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 Salesforces common stock on November 30, 2020. Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360 view of their customers. Together, Salesforce and Slack are creating the digital HQ for success from anywhere. Qatalyst Partners LP and Goldman Sachs & Co LLC are serving as financial advisors to Slack. That's exactly what the combination of Salesforce and Slack is all aboutcreating the business operating system for the new world of work. These forward-looking statements involve certain risks and uncertainties, many of which are beyond the parties control, that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to: the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; the effect of the announcement of the merger on the ability of Salesforce or Slack to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom Salesforce or Slack do business, or on Salesforces or Slacks operating results and business generally; risks that the merger disrupts current plans and operations and the potential difficulties in employee retention as a result of the merger; the outcome of any legal proceedings related to the merger; the ability of the parties to consummate the proposed transaction on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the proposed transaction, including the ability to secure regulatory approvals on the terms expected, at all or in a timely manner; the ability of Salesforce to successfully integrate Slacks operations; the ability of Salesforce to implement its plans, forecasts and other expectations with respect to Salesforces business after the completion of the transaction and realize expected synergies; and business disruption following the merger. Following the completion of the antitrust probe, Salesforce now anticipates to close Slack's acquisition on or about Jul 21. Additional Information about the Merger and Where to Find It. Connecting people and data across systems, apps and devices is one of the biggest challenges companies face in todays all-digital world. Slack Here's my take on the pros and cons of the deal. CloudShift was delighted to see Salesforce complete their acquisition of Slack, the innovative technology platform which has transformed the way thousands of people work. Slack Connect extends the benefits of Slack to enable communication and collaboration between a companys employees and all its external partners, from vendors to customers. The combination will create the operating system for the new way to work, uniquely enabling companies to grow and succeed in the all-digital world. Slacks open platform seamlessly integrates with more than 2,400 apps that people use to collaborate, communicate and get work done. The acquisition was in process for a long time, and the deal concluded on 21st July 2021. This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. ", Acquisition to Create the Digital HQ for Success from Anywhere. Slack . No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. "Salesforce and Slack are uniquely positioned to lead this historic shift to a digital-first world. Slack also saw strong performance in customer acquisition, especially in the enterprise. These documents are also available under the Financials heading of the Investor Relations section of Salesforces website at www.salesforce.com/investor. Quite honestly, if you're a shareholder, I don't . Salesforce and Slack are already making a huge difference. Salesforce acquired Slack for $27.7 billion in mostly cash on July 21, bringing its users a familiar team collaboration app -- while also intensifying competition with Microsoft Teams. As part of Salesforce, Slack will be positioned to accelerate and extend its mission to make work life simpler, more pleasant, and more productive. Slacks open platform seamlessly integrates with more than 2,400 apps that people use to collaborate, communicate and get work done. The two companies have a history of bitter competition with Microsoft slurping up whoever Salesforce . Cloud-based software company salesforce.com inc. on Dec. 1 agreed to buy Slack Technologies Inc. in a stock-and-cash transaction valuing the business communications platform at roughly $27.7 billion, representing Salesforce's largest acquisition to date. Latham & Watkins LLP and Goodwin Procter LLP are serving as legal counsel to Slack. Salesforce expects to fund the cash portion of the transaction consideration with a combination of new debt and cash on Salesforces balance sheet. Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world. Salesforce is famous for the number of acquisitions they keep making. Two other veteran Slack executives also will depart, the company said Monday, shaking up the division that Salesforce purchased in July 2021 for more than $27 billion in its largest acquisition . 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. These forward-looking statements generally can be identified by phrases such as will, expects, anticipates, foresees, forecasts, estimates or other words or phrases of similar import. The forward-looking statements included in this communication are made only as of the date hereof. -. A lot of speculations are being made in the industry by Salesforce clients . 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. communications, CRM functionality, customer experience, and AI in an ecosystem that will welcome other integrations to extend enterprise functionality, said Wayne Kurtzman, IDC Research Director for Social, Communities, and Collaboration. We're having trouble. At Salesforce World Tour New York, Slack announced tighter integration between Slack and Salesforce Sales Cloud. Combination of #1 CRM platform with the most innovative enterprise communications platform will create the operating system for the new way to work, enabling companies to grow and succeed in the all-digital world. Salesforce is bringing in a huge wave of features and services for its users this year. Forward-looking statements relate to future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, the anticipated impact of the proposed transaction on the combined companys business and future financial and operating results, the expected amount and timing of synergies from the proposed transaction, the anticipated closing date for the proposed transaction and other aspects of our operations or operating results. SAN FRANCISCO, July 21, 2021 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today announced it has completed its acquisition of Slack Technologies, Inc . The combination of Salesforce and Slack also brings together two of the software industrys most dynamic communities, creating an open and extensive ecosystem that will deliver the next generation of digital-first apps and workflows for business. When it entered the market, Slack was a scrappy, independent entry in the era of worker-centered tools. Other names and brands may be claimed as the property of others. With the largest enterprise app ecosystem, the Salesforce platform is the easiest way to build and deliver apps to connect with customers in a whole new way. When Salesforce initially announced its acquisition of Slack in December 2020, its share price dropped by nearly 10%. This is a match made in heaven. Copies of the documents filed with the SEC by Slack will be available free of charge on Slacks website at investor.slackhq.com or by contacting Slacks Investor Relations department at ir@slack.com. Each of Salesforce and Slack may also file other relevant documents with the SEC regarding the proposed transaction. The forward-looking statements included in this communication are made only as of the date hereof. Salesforce has completed its $27.7 billion acquisition its biggest one to date of business messaging app Slack. When the companies first announced the purchase back in December 2020, they said Slack founder and CEO Stewart Butterfield will continue to lead the messaging service as a unit within its new parent organization. IBMs 380,000 employees are working together in Slack, with numerous workflows across Salesforce Sales Cloud and Service Cloud powering customer success across locations and time zones. Salesforce just purchased Slack, a work messaging app, for $27.7 billon. But five years after formally challenging Microsoft, the company is being acquired by . Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Salesforce is the #1 CRM that enables companies to sell, service, market and conduct commerce, from anywhere. Salesforce today announced that it closed the acquisition, value at $27.7 billion. This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. HOME > Slack TOP > > Slack. Now its easier than ever to connect customers, employees, and partners with the conversations, apps, and data that power digital workflows for an all-new way to work. Slack shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce common stock (based on the . Salesforce has also entered into a voting agreement with certain stockholders of Slack common stock, under which each such stockholder has agreed to vote all of their Slack shares in favor of the transaction at the special meeting of Slack stockholders to be held in connection with the transaction, subject to certain terms and conditions. Investor Relations "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 for connecting employees, customers, and partners with each other and the apps they use every day. Slack will be deeply integrated into every Salesforce Cloud. Slack brings people, data and tools together so teams can collaborate and get work done, from anywhere. Every businessin every industryhas to optimize for a digital-first customer, employee, and partner experience. Only Slack offers a secure, enterprise-grade environment that can scale with the largest companies in the world. 21, 2021, 08:45 AM. Personally, I believe this is the most strategic combination in the history of software, and I cant wait to get going., Acquisition to Create the Operating System for the New Way to Work. You can tune into the event here. Slack will continue to be led by CEO and Co-Founder Stewart Butterfield. The intention is to assist organisations as they face waning revenues brought about by the cost-of-living crisis and the recession. Salesforce, Slack and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. The definitive proxy statement/prospectus (if and when available) will be mailed to stockholders of Salesforce and Slack. Slack will be deeply integrated into every Salesforce Cloud. Slack has transformed business communication. Salesforce agreed on Tuesday to buy Slack for $27.7 billion, combining two powerhouses in business software.. The news comes less than a week after Salesforce co-CEO Brett Taylor said he was stepping down. With the Slack acquisition, Salesforce is cementing itself as the premier software platform for companies to build solutions that fit their specific use cases, now including live chat. Slack shared details of the $27.7 billion acquisition on. August 23, 2021. Salesforce first announced that it would acquire Slack in December 2020 for $27.7 billion, a purchase widely seen as a play for a workplace collaboration market experiencing pandemic-accelerated . Adjusted earnings of $1.15 per share was also better than . For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com. Salesforce and Slack are already making a huge difference. This is a once-in-a-generation opportunity to rethink and reshape everything about how and where we work. The forward-looking statements included in this communication are made only as of the date hereof. Under the terms of the. Other names and brands may be claimed as the property of others. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to Salesforces and Slacks respective periodic reports and other filings with the SEC, including the risk factors identified in Salesforces and Slacks most recent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. The definitive proxy statement/prospectus (if and when available) will be mailed to stockholders of Salesforce and Slack. The deal is the largest acquisition ever by Salesforce, whose core product helps sales . They also said that Slack will become the new interface of . Slack will continue to be led by CEO and Co-Founder Stewart Butterfield. Combination to Form the Largest Open Ecosystem of Apps and Workflows for Business. SAN FRANCISCO Salesforce said on Tuesday that it would buy the workplace software company Slack for $27.7 billion in cash and stock, the latest in a wave of deals as the coronavirus pandemic. The opportunity we see together is massive, said Stewart Butterfield, Slack CEO and Co-Founder. As the self-proclaimed "#1 CRM platform in the world," Salesforce has expanded beyond marketing and sales into eCommerce and IT. You may obtain free copies of these documents from Salesforce or Slack using the sources indicated above. You may obtain free copies of these documents from Salesforce or Slack using the sources indicated above. Im thrilled to welcome Slack to the Salesforce Ohana once the transaction closes., Salesforce started the cloud revolution, and two decades later, we are still tapping into all the possibilities it offers to transform the way we work. 08, 2021 9:42 AM ET Slack Technologies, Inc. (WORK) CRM 3 Likes Discount Fountain ir@Slack.com, Or, connect with Investor Relations at 1-415-536-6250, Salesforce Signs Definitive Agreement to Acquire Slack, https://www.businesswire.com/news/home/20201201006156/en/. Slack Customers who purchase Salesforce applications should make their purchase decisions based upon features that are currently available. Slack has transformed the way we work with its trailblazing digital platform for business communication, which is used by millions of people around the world and enables entire organizations to work far more efficiently and effortlessly. Did Salesforce pay too much? Risks and uncertainties include, but are not limited to: the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; the effect of the transaction on the ability of Salesforce or Slack to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom Salesforce or Slack do business, or on Salesforce's or Slack's operating results and business generally; Salesforce's ability to successfully integrate Slack's operations and realize expected synergies; the impact of, and actions Salesforce may take in response to, the COVID-19 pandemic, related public health measures and resulting economic downturn and market volatility; Salesforce's ability to maintain security levels and service performance meeting the expectations of its customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; the expenses associated with Salesforce's data centers and third-party infrastructure providers; Salesforce's ability to secure additional data center capacity; Salesforce's reliance on third-party hardware, software and platform providers; the effect of evolving domestic and foreign government regulations, including those related to the provision of services on the Internet, those related to accessing the Internet, and those addressing data privacy, cross-border data transfers and import and export controls; current and potential litigation involving Salesforce or its industry, including litigation involving acquired entities, and the resolution or settlement thereof; regulatory developments and regulatory investigations involving Salesforce or affecting its industry; Salesforce's ability to successfully introduce new services and product features, including any efforts to expand its services; the success of Salesforce's strategy of acquiring or making investments in complementary businesses, joint ventures, services, technologies and intellectual property rights; Salesforce's ability to complete, on a timely basis or at all, announced transactions; Salesforce's ability to realize the benefits from acquisitions, strategic partnerships, joint ventures and investments; Salesforce's ability to successfully integrate acquired businesses and technologies; Salesforce's ability to compete in the market in which it participates; the success of Salesforce's business strategy and its plan to build its business, including its strategy to be a leading provider of enterprise cloud computing applications and platforms; Salesforce's ability to execute its business plans; Salesforce's ability to continue to grow unearned revenue and remaining performance obligation; the pace of change and innovation in enterprise cloud computing services; the seasonal nature of Salesforce's sales cycles; Salesforce's ability to limit customer attrition and costs related to those efforts; the success of Salesforce's international expansion strategy; the demands on Salesforce's personnel and infrastructure resulting from significant growth in its customer base and operations, including as a result of acquisitions; Salesforce's ability to preserve its workplace culture, including as a result of its decisions regarding its current and future office environments or work-from-home policies; Salesforce's dependency on the development and maintenance of the infrastructure of the Internet; Salesforce's real estate and office facilities strategy and related costs and uncertainties; fluctuations in, and its ability to predict, its operating results and cash flows; the variability in Salesforce's results arising from the accounting for term license revenue products; the performance and fair value of Salesforce's investments in complementary businesses through its strategic investment portfolio; the impact of future gains or losses from Salesforce's strategic investment portfolio, including gains or losses from overall market conditions that may affect the publicly traded companies within its strategic investment portfolio; Salesforce's ability to protect its intellectual property rights; Salesforce's ability to develop its brands; the impact of foreign currency exchange rate and interest rate fluctuations on its results; the valuation of its deferred tax assets and the release of related valuation allowances; the potential availability of additional tax assets in the future; the impact of new accounting pronouncements and tax laws; uncertainties affecting Salesforce's ability to estimate its tax rate; uncertainties regarding Salesforce's tax obligations in connection with potential jurisdictional transfers of intellectual property, including the tax rate, the timing of the transfer and the value of such transferred intellectual property; uncertainties regarding the effect of general economic and market conditions; the impact of geopolitical events; uncertainties regarding the impact of expensing stock options and other equity awards; the sufficiency of Salesforce's capital resources; Salesforce's ability to comply with its debt covenants and lease obligations; and the impact of climate change, natural disasters and actual or threatened public health emergencies, including the ongoing COVID-19 pandemic. 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