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.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Regulators Set to Clear Microsoft’s $13B OpenAI Investment
Apr 17, 2024 by
CPI
Biden Pledges to Block US Steel Acquisition by Japanese Firm
Apr 17, 2024 by
CPI
Canada Targets Tech Titans with New Digital Tax in 2024
Apr 17, 2024 by
CPI
EU Privacy Watchdog Calls for Meta to Offer Ad-Free Option
Apr 17, 2024 by
CPI
Japan’s Antitrust Overhaul Targets Tech Titans Like Apple
Apr 17, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – China Edition – Year of the Dragon
Apr 16, 2024 by
CPI
Review Logic and Rules for Concentrations of Undertakings that Do Not Meet the Standard of Notification
Apr 16, 2024 by
CPI
China’s Review of Semiconductor Transactions
Apr 16, 2024 by
CPI
Key Challenges and Tips for Merger Control Filing in China for Listed Companies
Apr 16, 2024 by
CPI
Key Point Review: China SPC Antitrust Judgments in 2023
Apr 16, 2024 by
CPI