Salesforce takeover of Slack is a defining moment for cloud software

Meet the new boss. Same as the old boss. Those lyrics from The Who nearly 50 years ago sum up the sinking sense of inevitability that comes with each new round of consolidation in tech.

Periods defined by their innovative start-ups and restless reinvention give way to phases when industry leaders buy up the most promising newcomers and either snuff out their ideas or bend them to their own ends.

The cloud software business — also known as software as a service, or SaaS — may just have reached its moment of reckoning. This week’s $27.7bn acquisition of workplace messaging company Slack by Salesforce looks like a turning point — and not just because Slack has been emblematic of a wave of start-ups searching for new and more creative ways of working.

In the parlance of business software, the deal highlights the perennial tension between “best of breed” products —

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Salesforce buys Slack for $27.7 billion in cloud company’s largest deal

Marc Benioff, founder, chairman and CEO of enterprise cloud computing company Salesforce.

Kim Kulish | Corbis News | Getty Images

Salesforce is making the biggest acquisition in its 21-year history. The company announced on Tuesday that it’s buying chat software developer Slack for over $27 billion.

Through a combination of cash and stock, Salesforce is purchasing Slack for $26.79 a share and .0776 shares of Salesforce, according to a statement. That comes to about $45.86 a share. Prior to initial reports of a deal last week, which led to a 38% pop in Slack’s shares, the stock was trading at under $30.

The purchase marks one of the largest ever for the software industry. The biggest was IBM’s $34 billion purchase of Red Hat in 2018, followed by Microsoft’s $27 billion acquisition of LinkedIn in 2016. Last year, the London Stock Exchange agreed to buy data provider Refinitiv for $27

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Salesforce acquires Slack for over $27 billion, marking cloud software vendor’s largest deal ever

  • Salesforce is buying Slack using a combination of stock and cash.
  • Prior to Slack, Salesforce’s biggest deals were the $15.3 billion purchase of Tableau last year and the $6.5 billion acquisition of MuleSoft in 2018.
  • The deal pits Salesforce against Microsoft in yet another market, with the companies already going head-to-head in sales software, data visualization and productivity tools.



Marc Benioff wearing a suit and tie: Marc Benioff, founder, chairman and CEO of enterprise cloud computing company Salesforce.


© Provided by CNBC
Marc Benioff, founder, chairman and CEO of enterprise cloud computing company Salesforce.

Salesforce is making the biggest acquisition in its 21-year history. The company announced on Tuesday that it’s buying chat software developer Slack for over $27 billion.

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Through a combination of cash and stock, Salesforce is purchasing Slack for $26.79 a share and .0776 shares of Salesforce, according to a statement. That comes to about $45.86 a share. Prior to initial reports of a deal last week, which led to a 38% pop in

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Salesforce To Buy Slack In $27.7 Bn Software Megadeal

Salesforce on Tuesday announced a $27.7 billion deal to buy online collaboration firm Slack, giving the business software giant a broader array of tools as the pandemic fuels a remote work trend.

San Francisco-based Salesforce will mesh Slack messaging technology with its platform for managing marketing and sales teams.

“Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world,” Salesforce chief executive Marc Benioff said in a release.

The deal gives Salesforce the popular workplace messaging software developed by Slack which has faced increased challenges during the coronavirus pandemic from video-based services such as Zoom.

Slack co-founder and chief executive Stewart Butterfield said: “As software plays a more and more critical role in the performance of every organization, we share a vision of reduced complexity, increased power and flexibility, and ultimately a greater degree of alignment and organizational

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Salesforce to Buy Software Maker Slack for $27.7 Billion

(Bloomberg) — Salesforce.com Inc. agreed to buy Slack Technologies Inc. for $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.



an open laptop computer sitting on top of a table: Slack signage on a laptop computer in the Brooklyn Borough of New York, U.S., on Tuesday, Dec. 1, 2020. Salesforce.com's expected purchase of Slack Technologies Inc. will likely be valued in the high $20 billions, according to the WSJ.


© Bloomberg
Slack signage on a laptop computer in the Brooklyn Borough of New York, U.S., on Tuesday, Dec. 1, 2020. Salesforce.com’s expected purchase of Slack Technologies Inc. will likely be valued in the high $20 billions, according to the WSJ.

The transaction, Salesforce’s largest-ever acquisition, is expected to close by the end of July, the San Francisco-based company said Tuesday in a statement. Slack investors will receive $26.78 for each company share as well as 0.0776 share of Salesforce — representing a 55% premium to Slack’s price on Nov. 24, the day before reports about deal talks between the companies.

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Salesforce Chief Executive Officer Marc Benioff has orchestrated more than 60

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Salesforce Agrees to Buy Software Maker Slack for $27.7 Billion

(Bloomberg) — Salesforce.com Inc. agreed to buy Slack Technologies Inc. for $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.



an open laptop computer sitting on top of a table: Slack signage on a laptop computer in the Brooklyn Borough of New York, U.S., on Tuesday, Dec. 1, 2020. Salesforce.com's expected purchase of Slack Technologies Inc. will likely be valued in the high $20 billions, according to the WSJ.


© Bloomberg
Slack signage on a laptop computer in the Brooklyn Borough of New York, U.S., on Tuesday, Dec. 1, 2020. Salesforce.com’s expected purchase of Slack Technologies Inc. will likely be valued in the high $20 billions, according to the WSJ.

The transaction, Salesforce’s largest-ever acquisition, is expected to close by the end of July, the San Francisco-based company said Tuesday in a statement. Slack investors will receive $26.78 for each company share as well as 0.0776 share of Salesforce — representing a 55% premium to Slack’s price on Nov. 24, the day before reports about deal talks between the companies.

Salesforce Chief Executive Officer Marc Benioff has orchestrated more than 60 acquisitions

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Salesforce in talks to buy Slack in huge cloud software deal

Cloud software company Salesforce is in talks to buy Slack, the work messaging app, in what would be one of the biggest software transactions to date, according to people familiar with the matter. 

An announcement could be made early next week, one person close to the deal said.

Marc Benioff, the founder and chief executive of Salesforce, has been on a hunt for acquisitions for some time and has been looking at several targets, according to another person briefed on the matter.

Shares in Slack were up 22 per cent after The Wall Street Journal first reported that the two companies had discussed a deal, sending the company’s market value above $20bn. Salesforce stock dropped about 3 per cent on the news. 

Salesforce has been among the big winners of the coronavirus pandemic due to a surge in cloud software spending. By contrast, Slack — an app used by workers

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CRM Application Software Market to Grow Volatile: Leading Players Salesforce, Oracle, SAP, IBM, Microsoft

The MarketWatch News Department was not involved in the creation of this content.

Nov 23, 2020 (Heraldkeepers) —
A new business intelligence report released by HTF MI with title “Global CRM Application Software Market Report 2020” is designed covering micro level of analysis by manufacturers and key business segments. The Global CRM Application Software Market survey analysis offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics sources and it comprises both qualitative and quantitative detailing. Some of the key players profiled in the study are Salesforce, Oracle, SAP, IBM, Microsoft, Adobe, Genesys, Nice Systems, Amdocs & SAS.

What’s keeping Salesforce, Oracle, SAP, IBM, Microsoft, Adobe, Genesys, Nice Systems, Amdocs & SAS Ahead in the Market? Benchmark yourself with the strategic moves and findings recently released by HTF MI
Get Free Sample Report + All Related Graphs

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Quote Management Software Market – Major Technology Giants in Buzz Again | Salesforce, Apttus, IBM

The MarketWatch News Department was not involved in the creation of this content.

Nov 10, 2020 (Heraldkeepers) —
Latest added Global Quote Management Software Market research study by HTF MI offers detailed product outlook and elaborates market review till 2025. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Salesforce, Apttus, IBM, Oracle, DealHub, Prisync, APriori, Quotient, KBMax, Vendavo & Verenia etc. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

This report studies the Global Quote Management Software market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Global Quote Management Software market by companies, region, type and end-use industry.
Scroll down 100s of data Tables, charts and

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Why Tom Siebel thinks Adobe, Microsoft, and C3.ai can beat Salesforce

  • Salesforce has long been the dominant name in customer relationship management software. But the CRM industry was actually invented in the 1990’s by billionaire Tom Siebel.
  • Now Siebel’s current company, a startup called C3.ai valued at $3.3 billion, has joined forces with Adobe, and Microsoft to take on Salesforce with industry-specific, AI-backed CRM.
  • Siebel tells Business Insider he’s confident he can win this market because Salesforce has “been talking about AI for about a decade,” he said. “It’s all marketing and very little technology.”  
  • Visit Business Insider’s homepage for more stories.

In 1993, Tom Siebel launched Siebel Systems. Soon after, in 1995, the company introduced Siebel Sales Enterprise, the world’s first customer management software — a tool that at-the-time helped salespeople keep track of interactions with current and potential clients. 

It was the start of what would become a growing $80 billion market called “customer relationship management” (CRM) — one

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