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26.11.2020

Salesforce in talks to buy Slack

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Slack struggles to fully capitalize on the switch to remote working during pandemic

Stocks impacted: Salesforce.com Inc (CRM), Slack Technologies (WORK)

In an effort to expand its offerings to businesses, the cloud-based software company Salesforce.com Inc is in talks to buy workplace messaging app Slack Technologies Inc. Now, Slack struggles to fully capitalize on the switch to remote working during the pandemic. In turn, Salesforce sees the potential acquisition as a logical extension of its enterprise offerings. According to some reports, Salesforce would pay cash for the deal, rather than use its stock as currency. In case of successful negotiations, a deal could be announced before Slack reports quarterly earnings on December 9. Following the news about talks, shares of Slack closed almost 38% higher Wednesday while Salesforce shares shed nearly 5.5%.

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