“What's very exciting is this vision that Stewart and Bret have put together,” he said in a conference call. for $6.5 billion.īenioff, who just three months ago said he didn't foresee making any acquisitions given the economic environment, praised Chief Operating Officer Bret Taylor for organizing the deal with Butterfield, then pitching him on the idea. The year before, in 2018, Benioff took over MuleSoft Inc. in an all-stock deal valued at $15.3 billion last year, which was Salesforce's biggest acquisition at the time. The company bought analytics firm Tableau Software Inc. He has set an annual revenue goal of $35 billion for Salesforce by fiscal 2024, compared with $17 billion in fiscal 2020. Bloomberg News and other publications reported that companies including Inc., Microsoft and Alphabet Inc.'s Google expressed interest in buying Slack at various times when it was still private.īenioff for years has turned to acquisitions to keep his product lineup fresh. Slack, launched in 2013, went public via a direct listing in 2019. Slack, which is expected to increase its sales almost 40% to $877 million this fiscal year, could help that effort. Salesforce, among the first of the fast-growing cloud software companies when it went public in 2004, strives to generate year-over-year revenue increases of more than 25%. The stock has almost doubled in 2020, with about half of that gain coming since the acquisition talks were reported. Slack's shares were little changed after closing at $43.84. Salesforce's shares declined about 4% in extended trading after closing at $241.35. “This is the most strategic combination in the history of software, and I can't wait to get going.” “The opportunity we see together is massive,” Butterfield said in the statement. He said he is excited to join the company that sparked the cloud revolution. Stewart Butterfield, Slack's co-founder and CEO, will continue to run the business as a Salesforce unit when the deal is completed. “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,” Benioff said in the statement.
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