Cloud-based software behemoth Salesforce is reportedly about to acquire Slack soon. Reports suggest that the company is in the final round of talks to carry out the acquisition. The announcement on the same may come as soon as next week, say some sources.
Slack is a premium proprietary communication platform widely used in the corporate and is one of the market leaders. As the news of the acquisition hit the headlines online, Slack's shares rose 23% higher on Wednesday, giving the company a market cap of $21 billion.
According to analytics firm Sensor Tower, Slack has been installed about 12.6 million times this year.
Salesforce’s business seems to be thriving even in these tough times, while Slack has had to hand out discounts to compete with Microsoft Teams, which is the cheaper option for enterprises. Slack has been having a fierce competition with Microsoft Teams in this COVID-19 era.
Salesforce’s market cap has been ballooning in recent times, which has encouraged the company to go on an acquisition spree. The company had acquired Tableau for $15.3 billion. The Slack acquisition could be one of the largest ever.