Technology

Salesforce buys Slack for $27.7 billion in 8th largest tech acquisition of history

Salesforce, the Customer Relationship Management (CRM) software providing tech giant that has been listed as the 6th best company to work for by Fortune magazine, has acquired Slack in a deal amounting to $27.7 billion. Slack is a communication platform specialized for the workplace to provide efficient coordination that has been around since 2013 but never really managed to take off.

The acquisition is the 8th largest tech acquisition in history and the largest software company acquisition ever.

  • Dell buys EMC ($67 billion, 2015)
  • NVIDIA acquires Arm ($40 billion, 2020)
  • Avago buys Broadcom ($37 billion, 2015)
  • AMD acquires Xilinx ($35 billion, 2020)
  • IBM acquires RedHat ($34 billion, Oct)
  • HP buys Compaq ($33.6 billion, 2001)
  • SoftBank buys ARM ($32.3 billion, 2016)
  • Salesforce buys Slack ($27.7 billion, 2020)
  • Microsoft buys LinkedIn ($26 billion, 2016)

Salesforce has reportedly acquired Slack to enhance and integrate the communication platform into its CRM software to provide a better user experience. Salesforce co-founder and CEO Marc Benioff said, “This is a match made in heaven. 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.”

CEO of Slack, 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 agility. Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going.”

Slack was not doing very well in 2020 as Microsoft Teams had gained huge popularity for workplace communication. Its share price was going down with the company incurring $147.6 million in losses in the first two quarters of 2020.

Image Source: Boss Hunting

Sponsored
TechJuice

Pakistan's premier website covering everything about Technology, Startups and Entrepreneurship! Email: editors@techjuice.pk

Share
Published by
TechJuice

Recent Posts

VPN Ban Could Cost Pakistan’s IT Industry $1 Billion, Warns P@SHA

The Pakistan Software Houses Association (P@SHA) has raised alarms about the severe impact of the…

51 mins ago

WhatsApp Trials Group Chat Mentions in the Latest Status Update Feature

WhatsApp is rolling out a new feature in its latest Android beta version, allowing users…

1 hour ago

PTA Chairman Confirms No Orders for Mobile Service Shutdown

ISLAMABAD: Chairman of the Pakistan Telecommunication Authority (PTA), Major General (retd) Hafeez-ur-Rehman, confirmed that no…

2 hours ago

35,000 Students to Receive Free Laptops Under Punjab Government Scheme

Punjab Chief Minister Maryam Nawaz Sharif has announced the launch of a new initiative aimed…

3 hours ago

Meta Introduces New Features to Messenger: AI Backgrounds, HD Video Calls, and More

Meta has unveiled a set of new features for Facebook Messenger, designed to improve call…

4 hours ago

PTA Seeks Stakeholder Input on VPN Registration

Islamabad (21st November 2024): PTA hosted a stakeholder consultation on VPN registration, with key participants…

5 hours ago