Salesforce.com is in advanced talks to acquire Slack Technologies Inc. , According to people familiar with the matter, a deal that will unite a business software giant with a bustling newcomer on a mission to replace email in the office.
Companies can strike a deal within days – perhaps by the time Salesforce reports its third-quarter financial results on Tuesday, some people have said. Slack, which has a market value of over $ 17 billion as of Wednesday morning, will be Salesforce’s largest acquisition ever. There is no guarantee that the companies will reach an agreement.
Salesforce is the world’s largest seller of software companies use to manage customer relationships. Started 21 years ago and managed by co-founder Marc Benioff, it has pioneered providing software over the cloud with a subscription rather than an expensive pre-installation. Mr. Benioff, Chairman and CEO, is one of the most senior executives in Silicon Valley, and he is positioned to refine it with Buy Time Magazine.
Salesforce has a market value of about $ 230 billion after years of big gains and its rich stock price – which trades at nearly 100 times the subsequent year’s earnings – gives the company a valuable currency to use in its acquisitions.
Mr. Benioff has gradually moved to expand the services that Salesforce provides to customers to become more of an all-purpose software provider, assisting companies in everything from analyzing their data with AI tools to managing employees. This put Salesforce in direct competition with other business software vendors including Microsoft Corp.