Salesforce to Buy Software Maker Slack for $27.7 Billion
- Slack CEO Butterfield to stay and lead unit after completion
- Price is a 55% premium to Slack’s stock before talks reported
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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.
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.