"We'll integrate with everyone - Microsoft and Salesforce, of course, but also ServiceNow and Workday, and more or less anyone you can think of. They don't want to have to make hard choices," Butterfield said. Slack's definitive proxy statement, filed with the Securities and Exchange Commission (the 'SEC') on Janucontains additional information about the Mergers and the other transactions contemplated by the Merger Agreement, including information concerning the interests of directors, executive officers and affiliates of Slack in the Mergers. "What customers want is interoperability. Together, Salesforce and Slack are creating the digital HQ for success from anywhere. While analysts view Teams as Slack's largest rival, Butterfield said Slack will continue to integrate with the Microsoft app in line with its goal to make it easier for employees to get things done. "I joked it had the highest billable hours of any channel ever, because we had all the lawyers in there and the investment banks," he said, but "it was really a transformative experience." "We did the due diligence for the Slack acquisition in Slack," Taylor noted. On January 1, 2021, Slack and Salesforce announced an. Thousands of apps work with Slack, so documents from third-party platforms like Google Drive can be signed in the channel with services like DocuSign Inc (DOCU.O), Taylor said. This acquisition was to provide additional search offerings for employees within a Slack workspace. They also want to reduce the complexity of using hundreds of different cloud-based apps that have crept into workplaces, they added.įor example, a Slack "channel" can be created to replace all the emails, phone calls and video conferences that might otherwise occur between a sales team doing a deal with a procurement team at another company. The merger partners hope the deal will bolster efforts to connect their joint customers to smooth out common business deals, Salesforce President Bret Taylor and Slack Chief Executive Stewart Butterfield said in an interview on Wednesday. antitrust regulators cleared the deal this week, allowing the creation of a stronger challenger to Microsoft Corp (MSFT.O), the top workplace software provider whose Teams app competes with Slack for market dominance. “Slack is our focus.July 21 (Reuters) - Business software maker (CRM.N) on Wednesday closed its $27.7 billion purchase of Slack Technologies Inc (WORK.N), a massive bet that Slack's workplace app will become popular for collaborations within and between companies. “We don’t have plans for any material M&A in the near term,” Taylor said. Beyond the sticker shock of the 27 billion deal, two months after the shotgun adoption of Slack into the Salesforce family. On the same call, Bret Taylor, who was promoted to co-CEO of Salesforce in 2021, said no other big acquisitions are in the pipeline. In many ways, the Salesforce acquisition of Slack was surprising. (NYSE: WORK), the most innovative enterprise communications platform, have entered into a definitive agreement under which Salesforce will acquire Slack. Salesforce stock jumped more than 3% in response. 10 min read Salesforce (NYSE: CRM), the global leader in CRM, and Slack Technologies, Inc. This was also above consensus analyst estimates of $31.8 billion. Salesforce updated its guidance for the 2023 fiscal year to around $32 billion in revenue, which would be a 21% increase on the $26.5 billion it made in 2022. Every segment of its business-Sales, Service, Platform (which now includes Slack), Marketing & Commerce, and Data-accounted for at least $1 billion revenues for the first time in company history. Salesforce enjoyed a strong finish to the financial year across the board, generating total revenues of $7.3 billion in its final quarter of 2022, an increase of 26% year-on-year. On a call with analysts on Tuesday, the company reaffirmed its commitment to integrating its products with Slack. Salesforce is also continuing to integrate Slack with its other products. In September 2021, it unveiled an initial set of integrations, offering users new ways to access Salesforce Sales, Service, and Marketing Clouds from the team collaboration app, as well analytics tool Tableau.
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