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Salesforce has inked a definitive agreement to buy Slack Technologies for an enterprise value of roughly $27.7 billion based on the Monday (Nov. 30) closing price of Salesforce… Latham & Watkins LLP and Goodwin Procter LLP are serving as legal counsel to Slack. I’m thrilled to welcome Slack to the Salesforce Ohana once the transaction closes.”, “Salesforce started the cloud revolution, and two decades later, we are still tapping into all the possibilities it offers to transform the way we work. Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world. ... Investors appeared to focus on another major piece of news: Salesforce agreed to … Salesforce has announced that Dreamforce ’20 will happen virtually – in fact, they have said all events in 2020 will be reimagined virtually. ... Nov. 25, 2020, 7:45 PM UTC ... Salesforce … I joined Salesforce in September 2019 — just over six months ago today — and I couldn’t be more grateful. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the combined companies or the price of Salesforce or Slack stock. Investors and security holders will be able to obtain free copies of the registration statement and proxy statement/prospectus (if and when available) and other documents containing important information about Salesforce, Slack and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going.”. Combining Slack with Salesforce Customer 360 will be transformative for customers and the industry. That’s why in 2015, Salesforce made a commitment to equal pay for equal work. Together, Salesforce and Slack will create the most extensive open ecosystem of apps and workflows for business and empower millions of developers to build the next generation of apps, with clicks not code. A core aspect of Salesforce’s culture is our deep commitment to equality, which guides everything we do. Support the news Salesforce Likely ... December 01, 2020. Salesforce Buys Slack. Combination of #1 CRM platform with the most innovative enterprise communications platform will create the operating system for the new way to work, enabling companies to grow and succeed in the all-digital world SAN FRANCISCO, Dec. 1, 2020 – Salesforce (NYSE: CRM), the global leader in CRM, and Slack Technologies, Inc. (NYSE: WORK), the most […] Investing 101. The opportunity we see together is massive,” said Stewart Butterfield, Slack CEO and Co-Founder. These forward-looking statements generally can be identified by phrases such as “will,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Salesforce.com, inc. Salesforce Tower, 415 Mission Street, 3rd Floor, San Francisco, CA 94105, United States. With the largest enterprise app ecosystem, the Salesforce platform is the easiest way to build and deliver apps to connect with customers in a whole new way. The assessment found seven percent of employees required equal pay adjustments. It’s one part of our equality journey. “Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it,” said Marc Benioff, Chair and CEO, Salesforce. These risks, as well as other risks related to the proposed transaction, will be included in the registration statement on Form S-4 and proxy statement/prospectus that will be filed with the Securities and Exchange Commission (“SEC”) in connection with the proposed transaction. As a result, we spent $2.1 million to address any unexplained differences in pay, totaling more than $12 million spent to date to ensure our global workforce is paid fairly. for a $10.0 billion senior unsecured 364-day bridge loan facility, subject to customary conditions. Salesforce beat analysts' estimates in the quarter, but quarterly earnings guidance was soft and the financial news was overshadowed by the company's statement about acquiring Slack. The wait is over – Dreamforce will be going ahead in 2020! The CRM firm also reports a third-quarter … Argon ONE M.2 Raspberry Pi case awarded 10 out of 10 in MagPi review. It allows businesses to purchase … While we’re proud of the progress we’ve made on equal pay, we recognize equal pay alone is not enough. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com. Molly Ford and the Office of Equality have done incredible work championing some of our equality efforts to ensure we’re creating a workplace where everyone feels seen, valued and heard. Today, we’ve completed our FY21 compensation planning process, which included an equal pay assessment of our 50,000 employees (excluding Tableau employees, which completed its own assessment). Qatalyst Partners LP and Goldman Sachs & Co LLC are serving as financial advisors to Slack. Download this Press Release PDF Format (opens in new window) The world's #1 CRM, available on major public clouds. QNAP Quad-Core 8-Bay TS-832PX NAS. The Slack shares subject to the agreement represent approximately 55% of the current outstanding voting power of the Slack common stock. Salesforce CEO Marc Benioff. We talk to Ina Fried, technology correspondent for Axios, about Salesforce's intentions to buy Slack. Each of Salesforce and Slack may also file other relevant documents with the SEC regarding the proposed transaction. Salesforce has announced a $27.7bn stock and cash acquisition of Slack ahead of the virtual iteration of its Dreamforce 2020 event. Forward-looking statements relate to future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, the expected amount and timing of synergies from the proposed transaction, the anticipated closing date for the proposed transaction and other aspects of our operations or operating results. Slack has transformed business communication. You can read more about Molly’s story, the importance of recognizing Equal Pay Day, and how you can become an equal pay advocate here. Information about the directors and executive officers of Salesforce, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Salesforce’s proxy statement for its 2020 Annual Meeting of Stockholders, which was filed with the SEC on May 1, 2020, and Salesforce’s Annual Report on Form 10-K for the fiscal year ended January 31, 2020, which was filed with the SEC on March 5, 2020, as well as in a Form 8-K filed by Salesforce with the SEC on June 1, 2020. The … Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. ET, up 42% year-to-date. Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers. SAN RAMON, Calif. -- Business software pioneer Salesforce.com is buying work-chatting service Slack for $27.7 billion in a deal aimed at giving the … Various trademarks held by their respective owners. Slack Connect extends the benefits of Slack to enable communication and collaboration between a company’s employees and all its external partners, from vendors to customers. The Complete Salesforce Trailhead 2020: ... Top News. Under the terms of the agreement, Slack shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share, representing an enterprise value of approximately $27.7 billion based on the closing price of Salesforce’s common stock on November 30, 2020. The board of directors of each of Salesforce and Slack have approved the transaction and the Slack board recommends that Slack stockholders approve the transaction and adopt the merger agreement. The forward-looking statements included in this communication are made only as of the date hereof. ET SAN FRANCISCO — Salesforce on Tuesday said it would buy the workplace software company Slack for $27.7 billion in … Dreamforce to You 2020 is a reimagined, virtual experience for learning, innovation, and inspiration that will commence November 12 and span the course of a month. Under the … The company is truly a best place to work, and I can see why we have earned top spots on best workplaces lists by Fortune, Forbes, Glassdoor, and others. By Associated Press; Dec. 1, 2020 ; ASSOCIATED PRESS / 2019. Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. This will combine Slack with Salesforce Customer 360 and will be transformative for customers and the industry. Slack’s open platform seamlessly integrates with more than 2,400 apps that people use to collaborate, communicate and get work done. ... December 10, 2020 … We’ll continue to iterate on our processes, tools, and practices as we continue to grow our workforce and evolve our business. Dow Jones Jumps as Apple Stock Rallies, Salesforce.com Stock Slumps Ahead of Earnings Apple led the Dow higher on Tuesday, while Salesforce moved in the opposite direction. December 02, 2020. All rights reserved. As part of the world’s #1 CRM, Slack will be able to expand its presence in the enterprise, not just among Salesforce customers, but for any company undergoing digital transformation. This communication relates to a proposed business combination transaction between Salesforce.com, Inc. (“Salesforce”) and Slack Technologies, Inc. (“Slack”). Since then, the company has evaluated pay on an ongoing basis to address any gaps among gender and race. “This is a match made in heaven. It’s the leading channel-based messaging platform, used by millions to align their teams, unify their systems, and drive their businesses forward. “As software plays a more and more critical role in the performance of every organization, we share a vision of reduced complexity, increased power and flexibility, and ultimately a greater degree of alignment and organizational agility. Copies of the documents filed with the SEC by Salesforce will be available free of charge on Salesforce’s website at www.salesforce.com/investor or by contacting Salesforce’s Investor Relations department at investor@salesforce.com. By Erin Griffith and Lauren Hirsch Dec. 1, 2020, 4:10 p.m. It is a new layer of the business technology stack where people can work together more effectively, connect all their other software tools and services, and find the information they need to do their best work. View all Motley Fool Services. Image Credit: Noam Galai/Getty Images The cutting-edge computer architecture that's changing the AI game Other names and brands may be claimed as the property of others. Salesforce has been on an acquisition spree, taking advantage of its market cap growth in recent years to buy growing companies. This document is not a substitute for the proxy statement/prospectus or registration statement or any other document that Salesforce or Slack may file with the SEC. In connection with the proposed transaction, Salesforce intends to file with the SEC a registration statement on Form S-4 that will include a proxy statement of Slack and that also constitutes a prospectus of Salesforce. ... 2020, and Salesforce’s Annual Report on Form 10-K for the fiscal year ended January 31, 2020, which was filed with the SEC on March 5, 2020, as well as in a Form 8-K filed by Salesforce with the SEC on June 1, 2020. Salesforce.com, inc. Salesforce Tower, 415 Mission Street, 3rd Floor, San Francisco, CA 94105, United States. The definitive proxy statement/prospectus (if and when available) will be mailed to stockholders of Salesforce and Slack. While the list of factors presented here is, and the list of factors to be presented in the registration statement on Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Top News Salesforce to buy work chat service Slack for $27.7B. Salesforce places at No. Combination of #1 CRM platform with the most innovative enterprise communications platform will create the operating system for the new way to work, enabling companies to grow and succeed in the all-digital world. and JPMorgan Chase Bank, N.A. Salesforce Signs Definitive Agreement to Acquire Slack. In other news, Salesforce has announced third-quarter revenue of $5.42 billion, a roughly 20% increase. This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Salesforce is the #1 CRM that enables companies to sell, service, market and conduct commerce, from anywhere. Connecting people and data across systems, apps and devices is one of the biggest challenges companies face in today’s all-digital world. Slack traded at $38.08 as of 11:55 a.m. The combination will create the operating system for the new way to work, uniquely enabling companies to grow and succeed in the all-digital world. Salesforce agreed to … Know more about this breakthrough along with other interesting news in this week’s top news brought to you by Analytics India Magazine. Upon the close of the transaction, Slack will become an operating unit of Salesforce and will continue to be led by CEO Stewart Butterfield. Salesforce is the #1 CRM that enables companies to sell, service, market and conduct commerce, from anywhere. December 2, 2020, 12:01 AM EST Updated on December 2, 2020, 3:26 PM EST Communications app competes directly with Microsoft’s Teams Deal moves Salesforce toward Benioff’s $50 billion sales goal You may obtain free copies of these documents from Salesforce or Slack using the sources indicated above. Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM." Salesforce has acquired Slack for approximately $27.7 billion. Slack brings people, data and tools together so teams can collaborate and get work done, from anywhere. Slack brings people, data and tools together so … Salesforce has gone back to the drawing board and rebuilt Dreamforce for today’s all-digital, work-from-anywhere world. Salesforce Tower, September 22, 2020 in New York City. The company is truly a best place to work, and I can see why we have earned top spots on best workplaces lists by Fortune, Forbes, Glassdoor, and others. This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The transaction is anticipated to close in the second quarter of Salesforce’s fiscal year 2022, subject to approval by the Slack stockholders, the receipt of required regulatory approvals and other customary closing conditions. Slack will be deeply integrated into every Salesforce Cloud. Salesforce chairman Marc Benioff speaks during a news … 4 in our ratings of the Best CRM Software of 2020, in a tie with Apptivo and Agile CRM. Slack and the Slack logo are trademarks of Slack Technologies, Inc. or its subsidiaries in the U.S. and/or other countries. Salesforce has held talks to acquire Slack, and a deal could be announced as soon as next week, according to a person familiar with the matter. Slack is where work happens. With the COVID-19 situation affecting most of the world in some way, mass gatherings across the globe have been curbed. Business Insider. Salesforce on Tuesday said it would acquire Slack for $27.7 billion in cash and stock. Neither Salesforce nor Slack undertakes any obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by law. Our culture is unique because it’s intentional, prioritized, measured, and we are constantly innovating. Copies of the documents filed with the SEC by Slack will be available free of charge on Slack’s website at investor.slackhq.com or by contacting Slack’s Investor Relations department at ir@slack.com. Introducing Salesforce Hyperforce. The Future of Work: New Salesforce Research Reveals How Organizations Should Work in a Pandemic World, Sign up to get news alerts, behind-the-scenes insights, and research from Salesforce News & Insights, By subscribing, you confirm that you agree to the processing of your personal data by Salesforce as described in the Privacy Statement, © Copyright 2020 Salesforce.com, inc. Salesforce shares fell as much as 4% on the news. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to Salesforce’s and Slack’s respective periodic reports and other filings with the SEC, including the risk factors identified in Salesforce’s and Slack’s most recent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. All rights reserved. Market watchers are expecting Salesforce to announce a deal to buy business communication platform Slack after market close on Tuesday (Dec. 1). Information about the directors and executive officers of Slack, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Slack’s proxy statement for its 2020 Annual Meeting of Stockholders, which was filed with the SEC on May 5, 2020, and Slack’s Annual Report on Form 10-K for the fiscal year ended January 31, 2020, which was filed with the SEC on March 12, 2020. Salesforce is buying workplace messaging app Slack for $27.7 billion, marking the largest acquisition in the San Francisco-based cloud-based company’s history.. BofA Securities, Inc. is serving as exclusive financial advisor to Salesforce and Wachtell, Lipton, Rosen & Katz and Morrison & Foerster LLP are serving as legal counsel to Salesforce. Salesforce has obtained a commitment from Citigroup Global Markets Inc., Bank of America, N.A. View all news. Salesforce COO Bret Taylor announced “Hyperforce” during Marc Benioff’s opening keynote at the virtual version of the supplier’s 2020 Dreamforce event in San Francisco. Various trademarks held by their respective owners. Salesforce has confirmed to ABC News that the software firm is planning to eliminate jobs soon after reporting what CEO Marc Benioff called "one of the best quarters in Salesforce… SAN FRANCISCO, Dec. 1, 2020 – Salesforce (NYSE: CRM), the global leader in CRM, and Slack Technologies, Inc. (NYSE: WORK), the most innovative enterprise communications platform, have entered into a definitive agreement under which Salesforce will acquire Slack. Salesforce has also entered into a voting agreement with certain stockholders of Slack common stock, under which each such stockholder has agreed to vote all of their Slack shares in favor of the transaction at the special meeting of Slack stockholders to be held in connection with the transaction, subject to certain terms and conditions. As the new interface for Salesforce Customer 360, Slack will transform how people communicate, collaborate and take action on customer information across Salesforce as well as information from all of their other business apps and systems to be more productive, make smarter, faster decisions and create connected customer experiences. Additional Information about the Merger and Where to Find It. Of those who received an adjustment, 96% were due to unexplained differences among genders, and in the U.S., four percent were due to unexplained differences across race and ethnicity. View all news. Salesforce, Slack and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Sign up to get news alerts, behind-the-scenes insights, and research from Salesforce News & Insights, By subscribing, you confirm that you agree to the processing of your personal data by Salesforce as described in the Privacy Statement, © Copyright 2020 Salesforce.com, inc. Slack serves leading organizations in every industry around the world, from the fastest growing startups  to Fortune 500 companies, such as Starbucks, Target and TD Ameritrade, along with leading academic institutions, non-profits, and governments in more than 150 countries. 2020 Salesforce Equal Pay Update I joined Salesforce in September 2019 — just over six months ago today — and I couldn’t be more grateful. Dec. 1 (UPI) --Cloud computing company Salesforce acquired workplace chat app Slack in an agreement announced by the two companies Tuesday. Salesforce shares dipped as much as 10.7% on Wednesday after the company confirmed its $27.7 billion purchase of Slack and guided for its … For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE. Today after the bell, Salesforce reported its third-quarter earnings for its fiscal 2021, a period that ended October 31, 2020. Dec. 2, 2020 SAN FRANCISCO — Five years ago, Marc Benioff negotiated to sell Salesforce, the software company he co-founded in 1999 and … Salesforce expects to fund the cash portion of the transaction consideration with a combination of new debt and cash on Salesforce’s balance sheet. We will remain committed to leveling the playing field throughout the entire employee experience — from onboarding to ongoing employee success. These forward-looking statements involve certain risks and uncertainties, many of which are beyond the parties’ control, that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to: the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; the effect of the announcement of the merger on the ability of Salesforce or Slack to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom Salesforce or Slack do business, or on Salesforce’s or Slack’s operating results and business generally; risks that the merger disrupts current plans and operations and the potential difficulties in employee retention as a result of the merger; the outcome of any legal proceedings related to the merger; the ability of the parties to consummate the proposed transaction on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the proposed transaction, including the ability to secure regulatory approvals on the terms expected, at all or in a timely manner; the ability of Salesforce to successfully integrate Slack’s operations; the ability of Salesforce to implement its plans, forecasts and other expectations with respect to Salesforce’s business after the completion of the transaction and realize expected synergies; and business disruption following the merger. Customers who purchase Salesforce applications should make their purchase decisions based upon features that are currently available. Our work with equal pay will never be done. Returns as of 12/6/2020. FILE - In this May 16, 2019, file photo, Salesforce chairman Marc Benioff speaks during a news conference, in Indianapolis. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. Only Slack offers a secure, enterprise-grade environment that can scale with the largest companies in the world. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. , September 22, 2020 ; Associated Press / 2019 core aspect Salesforce! I couldn ’ t be more grateful be transformative for customers and the.! Brought to you by Analytics India Magazine other news, Salesforce chairman Marc Benioff speaks during a news,... Salesforce nor Slack undertakes any obligation to update any forward-looking statements included in this may 16, 2019 file! By Associated Press / 2019 buy business communication platform Slack after market close on Tuesday ( 1. Street, 3rd Floor, San Francisco, CA 94105, United States for approximately $ 27.7 billion names brands. 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