What is the salesforce to acquire slack? You can have more awareness of this topic. If you want to understand more information, read this study.
What is the Salesforce To Acquire Slack?
Salesforce is an online customer relationship management (CRM) tool that is to automate and manages business processes. Also, slack is a workplace chat application.
The two companies are in the process of merging. This is a strategic move to strengthen its position in the enterprise cloud computing market. Slack has 5 million daily active users. This number is growing rapidly. It allows users to communicate.
It is with each other through private channels, public channels, and direct messages. Also, it allows users to share files and use several other tools. Moreover, it has a Linux app that makes it very popular among developers.
The Workplace by Facebook is another competitor of Slack. Facebook is looking to compete with Slack in the workplace communication market.
It announced a new workplace communication platform at its F8 developer conference in April 2017. With this tool, Facebook challenges Slack’s dominance in the workplace collaboration market.
The company has not yet given a timeline to complete the process of acquisition. But it is believed that they will complete this deal in the first quarter of 2017.
This news comes soon after Salesforce’s announcement to acquire Tableau, a software company that specializes in data visualization and business intelligence tools, for $15.7 billion. As a result, Salesforce’s stock price has increased significantly by 28%. In addition, it has also gained more than 3% in after-hours trading.
Why Does Salesforce Buy Slack?
The cloud computing company wants to integrate Slack’s tools with its tools. Salesforce has more than 18,000 customers. Slack is also used by more than 5 million daily active users. The integration of these two companies will allow them to offer a comprehensive solution to their customers.
Salesforce is a company that provides solutions for customer relationship management (CRM). So it is natural for them to add a team communication application like Slack to their products.
Salesforce has a market capitalization of $50 billion and it expects to close the acquisition by the first quarter of 2017. Also, Salesforce expects to get $80 million in revenue from this deal in 2017. This revenue forecast implies earnings per share of $0.31 for the year 2017.
Salesforce is not the only company that wants to acquire Slack. Google and Microsoft are both interested in buying Slack. Also, slack valued itself at $3.8 billion in its last funding round in August 2016. But the final price of this acquisition has not been disclosed yet.
Google’s parent company Alphabet acquired Apigee for $625 million in October 2016. Apigee is a cloud-based API management platform that competes with Slack. So Google must be in acquiring Slack to strengthen its position in the workplace collaboration market.
Microsoft has recently launched a new version of Skype for business that supports chat, voice, and video calls along with other features. It also offers more integration options with other
Slack is becoming increasingly popular with the new features that it has added recently. It is a very convenient tool for business collaboration. It helps companies to become more productive.