Salesforce wants to purchase the Slack app
Salesforce wants to purchase the Slack app

Reuters reported on Wednesday, citing people familiar with the matter, that cloud software company Salesforce is in talks to purchase a Workplace Messaging (Slack) app to expand the company's products.

Salesforce said that due to intense competition from Microsoft Teams and other business apps, Slack was unable to take full advantage of the move to remote work during the Covid-19 pandemic. Show.

Reuters quoted sources as saying Salesforce sees the potential acquisitions as a suitable addition to its company's products. According to an agency source, there is no way to know the price to buy Slack with it. Salesforce pays cash for the transaction rather than using its stock as currency.

The source added that if negotiations are successful, the deal may be announced before Slack announces its quarterly results on December 9.

Slack's stock price rose 24% to $ 36.58, bringing the company's market value to $ 21 billion, while Salesforce's stock price subsequently declined 2.7%, the Wall Street Journal reported that the two companies ended the deal. Discussed earlier.

Slack is taking advantage of the company's growing reliance on IT systems to keep its employees in touch during the pandemic. According to a Sensor Tower app analysis company, Slack has been installed about 12.6 million times since the beginning of this year, an increase of nearly 50% compared to the same period in 2019.

But the economic fallout from the virus outbreak forced Slack to offer discounts and rebates to many customers who need to cut costs.

To save money, some companies have also turned to Microsoft Services (TEAMS), which are provided as part of the Microsoft Office suite of programs.

While Slack's revenue growth slowed, Salesforce's finances soared during the pandemic. In response to the growing pandemic's demand for online business plans to support telecommuting and telecommuting, the company increased its annual revenue forecast last August.

Salesforce has led the development of its cloud computing business through acquisitions. Due to the increasing competition with companies like Oracle and SAP in Germany, more than $ 16 billion USD was spent last year.

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