Salesforce In Megadeal To Buy Slack For $27.7 Billion

Salesforce announced it would buy the workplace software company Slack for US$27.7 billion in cash and stock, the latest in a wave of deals as the coronavirus pandemic boosts demand for tools that enable people to work remotely.

If completed, the acquisition would mark the end of Slack’s brief run as an independent, publicly traded company. It went public in mid-2019. The deal will cap an acquisitive streak by Salesforce with its largest deal since it was founded 21 years ago.

The deal is the biggest bet among a recent spate of acquisitions made by tech companies to capitalize on the shift to remote work. Adobe last month announced that it planned to acquire the workforce management software company Workfront for US$1.5 billion. In July, Atlassian, which sells tools for developers and project management, stated it would buy the enterprise services business Mindville for an undisclosed amount.

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