Salesforce finalizes acquisition of Slack for US$27.7 Billion
Category: #tech  By Vikas M  Date: 2021-07-24
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Salesforce finalizes acquisition of Slack for US$27.7 Billion

Salesforce, an American cloud-based software company headquartered in California, has reportedly closed its $27.7 billion purchase deal of Slack, a huge bet that will help the workplace app to grow popular for both internal and external collaboration.

As per sources, antitrust regulators in the US have approved the acquisition this week, enabling the formation of a stronger competitor to Microsoft's Teams programme, which competes with Slack for market dominance.

Bret Taylor, Salesforce President and Stewart Butterfield, Slack Chief Executive, commented on the deal in an interview that both the partners expect the merger will help them connect their mutual customers and smooth out common business dealings.

Additionally, they intend to facilitate the use of hundreds of various cloud-based apps that have infiltrated businesses. For example, a Slack "channel" can be formed to replace all emails, phone conversations, and video conferences that would otherwise occur between a sales team and another company's procurement staff.

Mr. Taylor explained that since Slack works with thousands of apps, papers from third-party sources like Google Drive may be signed in the channel with services like DocuSign.

Taylor stated, they completed the thorough research for the Slack acquisition. He joked that it had the highest billable hours of any channel ever, since they have all the attorneys and investment banks in there, but it was truly a revolutionary event.

Given that experts see Teams as one of the biggest competitors of Slack, Mr. Butterfield said Slack would continue to interact with the Microsoft software to help employees get things done.

According to Stewart, interoperability is what customers demand for and they don't want to make difficult decisions. He further claimed that they will integrate with Microsoft and Salesforce as well as with ServiceNow and Workday, and pretty much with anyone else.

Source Credit - https://gadgets.ndtv.com/apps/news/salesforce-slack-buy-acquire-deal-usd-27-7-billion-connect-companies-app-2492026

 

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