Salesforce reportedly in talks to buy Slack
Cloud software company Salesforce has been in talks to acquire workplace communication platform Slack, according to a new report.
Credit: Slack
Shares of Slack rose more than 23% in trading Wednesday on the news, first reported by The Wall Street Journal publisher Dow Jones.
The report indicates that the deal would likely value Slack at more than its current $17 billion market cap. A deal is not guaranteed, however, and the talks could fall through.
According to CNBC, the WORK stock has been halted for volatility after it spiked in intra-day trading.
The deal, if completed, would likely beat Salesforce's largest acquisition to date. That title is currently held by Salesforce's purchase of data company Tableau for $15.7 billion in June 2019.
Credit: Slack
Shares of Slack rose more than 23% in trading Wednesday on the news, first reported by The Wall Street Journal publisher Dow Jones.
The report indicates that the deal would likely value Slack at more than its current $17 billion market cap. A deal is not guaranteed, however, and the talks could fall through.
According to CNBC, the WORK stock has been halted for volatility after it spiked in intra-day trading.
BREAKING: Salesforce has recently been in talks to buy Slack Technologies, Dow Jones reports.$WORK halted for volatility after spiking 7%. https://t.co/6a0CZFlnp1 pic.twitter.com/TfzV9tBzAW
-- CNBC Now (@CNBCnow)
The deal, if completed, would likely beat Salesforce's largest acquisition to date. That title is currently held by Salesforce's purchase of data company Tableau for $15.7 billion in June 2019.
Comments
Does this story have the slightest connection to Apple?
Develop in house might cause delay or cost too much then just buying Slack. Also they bring in all those Slack customers who might consider buying some bundle package from Salesforce.
Enterprise work place, they don't care who made it. They only care cast and the bundled software contain all the functionality or not.
These days, Enterprise admin hate to support multiple venders. They rather talk to single vender to integrate and get some special support even they pay for it.
Since Salesforce cloud software does not have chat function, they need to buy this to complete the bundle.
If Apple wants to enter Enterprise business then they just buying Salesforce.
It will be the day of reckoning.
Coincidentally I started monitoring the Slack share price maybe a month ago. Guess I should have just taken a whirl on it. We knew it was an obvious acquisition target. Oh well.