Salesforce Confirms Deal To Buy Slack

It’s official. After reportedly entering high-level, late-stage talks, Salesforce, one of the newest members of the Dow 30, has agreed to buy Slack, a former Silicon Valley “unicorn” that IPO’d last year.

Shares of the Slack have surged in after-hours trade on the news, as if the massive surge seen following the initial reports that the two companies were in talks wasn’t enough.

Here are the juicy details: $27.7 billion in cash and stock, giving the corporate software giant a popular workplace-communications platform in one of the biggest technology deals of the year. The transaction, Salesforce’s largest-ever acquisition, is expected to close in the fiscal second quarter of 2022, the San Francisco-based company said Tuesday in a statement. Slack shareholders will receive $26.78 for each share of the company as well as 0.0776 shares of Salesforce.