The purchase of Slack, an existing partner with less than $1 billion in annual revenue, fulfills co-founder Marc Benioff's long-held goal to make Salesforce's software relevant to a broad swath of corporate employees.

(Bloomberg) –Salesforce.com Inc.'s $27.7 billion takeover of Slack Technologies Inc. represents co-founder Marc Benioff's most aggressive effort yet to challenge reigning software marker Microsoft Corp.

The cash-and-stock deal, announced Tuesday and expected to close by July, will bring a workplace-communications application that's grown more popular during the coronavirus pandemic to Salesforce's ever-expanding platform. In the process, the app maker will come into greater conflict with the world's largest software company, which offers a competing product named Teams.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.