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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Slack sold to business software giant for $27.7bn



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Salesforce has agreed to buy workplace messaging app Slack for $27.7bn (£20bn) in what would be one of the biggest tech mergers in recent years.

Marc Benioff, boss of the business software giant, called the deal a “match made in heaven”.

He has been pushing to expand the company’s software offerings and fend off rivals such as Microsoft.

The acquisition comes as the pandemic has increased the focus on remote work and tools, like Slack, which enable it.

Tech analyst Dan Ives of Wedbush Securities called it a “now or never” purchase for Mr Benioff.

“If Salesforce wants to expand beyond its core gold mine of sales and marketing departments … this was the moment and thus represents a major shot across the bow against Microsoft,” he wrote in a note to investors after the deal was announced.

Slack, founded in 2009, has won a following with its

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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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How to update Slack on your computer or mobile device to make sure you have the latest features

  • The way to update Slack will depend on what system you’re using the app on.
  • To update Slack on a Windows system, you’ll just need to click the “Check for updates” option.
  • To update Slack on a Mac, iPhone, or Android device, you’ll need to go through your system’s App Store.
  • The browser version of Slack never needs to manually update, as it will load the most recent version whenever you load the page.

Keeping your apps up to date is always a good idea if you want to avoid potential security threats.

If you’re a Slack user, the update process is simple — though it’s worth noting that it will differ depending on what version of the app you use.

Windows users can update Slack from right within the app itself, and users of the browser app don’t have to worry, as the browser app updates whenever you refresh

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Slack says it has resolved issues with its software that caused some users to experience issues



logo: The Slack Technologies Inc. logo is seen on a banner outside the New York Stock Exchange (NYSE) during thew company's IPO in New York Brendan McDermid/Reuters


© Brendan McDermid/Reuters
The Slack Technologies Inc. logo is seen on a banner outside the New York Stock Exchange (NYSE) during thew company’s IPO in New York Brendan McDermid/Reuters

  • Some Slack users said they experienced issues Friday morning, including trouble sending messages or just generally slow service with the software.
  • The company told Business Insider that Slack is now back up and running.
  • This is one of several partial or total outages that the company has experienced during the pandemic as people continue to work remotely.
  • Visit Business Insider’s homepage for more stories.

Slack has resolved issues that were affecting its service on Friday, the company told Business Insider. Its website now reads “Slack is up and running.” 

Some Slack users said they were experiencing “degraded performances and connectivity issues” with the workplace messaging software on Friday morning.

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