Salesforce's COO and Slack's CEO tell Insider what they can learn from each other as they integrate.Īs of Wednesday, Salesforce has officially closed its $27.7 billion acquisition of Slack, six months after the massive deal to acquire the workplace chat app was first announced.The deal is expected to upend the market and challenge the dominance of Microsoft.

Salesforce has closed its $27.7 billion mega-deal to buy workplace chat company Slack.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.Account icon An icon in the shape of a person's head and shoulders. “Considering the deal price and the presence of a robust competitor in the collaboration market in the form of Microsoft, we expect investors to be keyed in on the early success Salesforce has in driving Slack penetration within its existing customer accounts,” said Stifel analyst Tom Roderick who carries a “buy” rating with a US$295 price target for Salesforce stock. Salesforce, which published quarterly earnings on May 27, boosted its full-year outlook to an adjusted profit between US$3.79 and US$3.81 per share and forecast revenues in the range of US$25.90 billion and US$26.00 billion. Paid customer growth, the company stated, was up 39% to 169,000. Last month, Slack announced that its fiscal first quarter revenues rose 36% from last year to US$273.4 million, with billings rising 35% to US$278.5 million. Slack stated in a Securities and Exchange Commission filing that it expects the deal to close on July 21. The DOJ’s Antitrust Division opened a “second request” review into the deal earlier this year as the new administration of President Joe Biden vowed to take a closer look at big tech mergers.

Slack shares edged higher in active trading Monday, July 19, after an antitrust probe into its US$27.7 billion takeover by Salesforce was dropped by the Department of Justice (DOJ).

Salesforce acquisition of slack