Salesforce is acquiring Slack for an enterprise value of more than $27.7 billion, the companies confirmed today.
This is M&A deal number 497 that ChannelE2E has tracked so far in 2020. Find a full list of M&A deals here.
Slack competes against Microsoft Teams in the business collaboration software market. However, Slack has been late to the video conferencing boom during the coronavirus pandemic, allowing Zoom and Microsoft to cement market leadership positions, The Wall Street Journal notes.
Still, Slack has remained in growth mode. Revenue was $215.9 million in Q2 of fiscal year 2021, up 49% year-over-year, the company announced on September 8, 2020. Slack is expected to announce Q4 fiscal 2021 financial results and earnings on Wednesday, December 9, 2020.
Salesforce CEO Marc Benioff is expected to keynote the Dreamforce virtual conference on December 2, 2020.
Story originally posted November 29, 2020. Updated multiple times thereafter as new details about the alleged Salesforce-Slack deal emerged.
