Salesforce is acquiring workplace chat app Slack for $27.7 billion

Cloud computing giant Salesforce is acquiring workplace chat app Slack, the two companies announced on Tuesday. The deal, rumblings of which began surfacing last week, marks one of the most consequential acquisitions in the business software industries in recent years and Salesforce’s biggest purchase ever.

Salesforce is paying $27.7 billion for Slack, according to the press release. “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,” the announcement reads.

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