By Erin Griffith and Lauren Hirsch Dec. 1, 2020, 4:10 p.m. The definitive proxy statement/prospectus (if and when available) will be mailed to stockholders of Salesforce and Slack. 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. We’ll continue to iterate on our processes, tools, and practices as we continue to grow our workforce and evolve our business. The news comes despite Benioff — who with his wife, Lynne, shelled out $190 million to scoop up Time magazine in 2018 — denying in August that Salesforce was pursuing any acquisitions. After 21 years and as it enters this new decade, Adam Blitzer, EVP and GM of the Marketing Cloud, shares his … Salesforce shares are trading up 1% to $222.17; Shares have fallen 10% in the last five days. The stock is down about 20 points since the deal was publicized. Dreamforce to You 2020 will be a major step toward that future, if it succeeds. Published December 1, 2020 7:42 pm Salesforce to buy Slack in $27.7 billion deal Salesforce is buying workplace messaging app Slack for $27.7 billion, marking the … 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's … That is $45.50 per share, based on Salesforce… News provided by. Introducing Salesforce Hyperforce. SAN RAMON, Calif. (AP) — Business software pioneer Salesforce.com is buying work-chatting service Slack for $27.7 billion in a deal aimed at giving the … Salesforce has agreed to acquire Slack Technologies in a deal worth $27.7bn. View all news. The company is truly a best place to work, and I … Various trademarks held by their respective owners. Salesforce Nov 24, 2020, 07:30 ET. Share this article. 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. All rights reserved. The assessment found seven percent of employees required equal pay adjustments. 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. 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. It’s the leading channel-based messaging platform, used by millions to align their teams, unify their systems, and drive their businesses forward. 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. Salesforce.com, inc. Salesforce Tower, 415 Mission Street, 3rd Floor, San Francisco, CA 94105, United States. 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 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. “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. 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. SAN FRANCISCO, Nov. 24, 2020 /PRNewswire/ -- Salesforce (NYSE: CRM), the global leader in CRM, today announced … Salesforce has acquired Slack for approximately $27.7 billion. Today, Salesforce has become an iconic force in creating SaaS and CRM. Salesforce sees tech conferences of the future as truly hybrid in-person/digital events. Salesforce … We talk to Ina Fried, technology correspondent for Axios, about Salesforce's intentions to buy Slack. We're pleased to share that Forrester Research has ranked Salesforce a Leader in "The Forrester WaveTM: Experience Optimization Platforms, Q4 2020" report. Sep 10, 2020 Join us for our first-ever Global Partnerforce Live.This virtual event is designed to inspire you - as part of our partner ecosystem - to continue growing together with Salesforce, while driving customer success. We will remain committed to leveling the playing field throughout the entire employee experience — from onboarding to ongoing employee success. The good news is that the majority of Salesforce professionals sit on the happier side, with almost two-thirds (63%) telling us they are ‘generally happy’. In a recent press release, Salesforce announced Hyperforce, a new capability allowing customers to deploy Salesforce on major public cloud platforms Azure, AWS, Google, and Alibaba. All rights reserved. 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. Dec. 2, 2020 SAN FRANCISCO — Five years ago, Marc Benioff negotiated to sell Salesforce, the software company he co-founded in 1999 and … San Francisco, CA (and Vancouver, BC), December 2, 2020--Salesforce (NYSE: CRM), a global leader in CRM, and Slack Technologies (NYSE: WORK), developers of an innovative enterprise communications platform, have entered into a definitive agreement under which Salesforce will acquire Slack. Slack will be deeply integrated into every Salesforce Cloud. 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. 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 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. Today after the bell, Salesforce reported its third-quarter earnings for its fiscal 2021, a period that ended October 31, 2020. and JPMorgan Chase Bank, N.A. A core aspect of Salesforce’s culture is our deep commitment to equality, which guides everything we do. Dreamforce to You 2020 will be a major step toward that future, if it succeeds. 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. … Slack has transformed business communication. The opportunity we see together is massive,” said Stewart Butterfield, Slack CEO and Co-Founder. For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE. 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. Additional Information about the Merger and Where to Find It. Since then, the company has evaluated pay on an ongoing basis to address any gaps among gender and race. Salesforce agreed to … While we’re proud of the progress we’ve made on equal pay, we recognize equal pay alone is not enough. After 21 years and as it enters this new decade, Adam Blitzer, EVP and … ET SAN FRANCISCO — Salesforce on Tuesday said it would buy the workplace software company Slack for $27.7 billion in … 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. 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. 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. “This is a match made in heaven. 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. It allows businesses to purchase … Salesforce announced it was purchasing Slack, its largest acquisition to date, after Tuesday's close. Know more about this breakthrough along with other interesting news in this week’s top news brought to you by Analytics India Magazine. 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 held. Salesforce.com, inc. Salesforce Tower, 415 Mission Street, 3rd Floor, San Francisco, CA 94105, United States. Salesforce agreed to pay $27.7 billion for … Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. Salesforce Signs Definitive Agreement to Acquire Slack. SAN FRANCISCO, Dec. 2, 2020 /PRNewswire/ -- Salesforce… 2020 Salesforce Equal Pay Update I joined Salesforce in September 2019 — just over six months ago today — and I couldn’t be more grateful. 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 expects to fund the cash portion of the transaction consideration with a combination of new debt and cash on Salesforce’s balance sheet. Each of Salesforce and Slack may also file other relevant documents with the SEC regarding the proposed transaction. That’s why in 2015, Salesforce made a commitment to equal pay for equal work. December 02, 2020. ... Dec 2, 2020 3:04 PM EST. Today, Salesforce has become an iconic force in creating SaaS and CRM. The MarketWatch News Department was not involved in the creation of this content. Salesforce has announced a $27.7bn stock and cash acquisition of Slack ahead of the virtual iteration of its Dreamforce 2020 event. Salesforce today peeled back the curtains on ReceptorNet, a machine learning system researchers at the company developed in partnership with clinicians at the University of Southern … 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. 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. 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. Combining Slack with Salesforce Customer 360 will be transformative for customers and the industry. Our work with equal pay will never be done. Dreamforce to You 2020 … Investor Day to be broadcast live on Salesforce's investor relations website. You may obtain free copies of these documents from Salesforce or Slack using the sources indicated above. View all news. 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. 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. This communication relates to a proposed business combination transaction between Salesforce.com, Inc. (“Salesforce”) and Slack Technologies, Inc. (“Slack”). Other names and brands may be claimed as the property of others. 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. 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. I joined Salesforce in September 2019 — just over six months ago today — and I couldn’t be more grateful. The news comes despite Benioff — who with his wife, Lynne, shelled out $190 million to scoop up Time magazine in 2018 — denying in August that Salesforce was pursuing any acquisitions. If the … December 02, 2020. The ARK funds from Cathie Wood are among the best performing and most followed ETFs in 2020. Download this Press Release PDF Format (opens in new window) The world's #1 CRM, available on major public clouds. 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 has gone back to the drawing board and rebuilt Dreamforce for today’s all-digital, work-from-anywhere world. 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 more information about Salesforce (NYSE: CRM), visit: www.salesforce.com. The stock is down about 20 points since the deal was publicized. 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. 4 in our ratings of the Best CRM Software of 2020, in a tie with Apptivo and Agile CRM. 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. Salesforce has acquired Slack for approximately $27.7 billion. When comparing the two extremes of the scale, the happiest people outweighed the most unhappy. Jim Cramer discusses the latest stock market news including the Salesforce-Slack acquisition, the U.K.'s approval of the Pfizer vaccine and McDonald's stock. , service, market and conduct commerce, from anywhere and cash acquisition of Slack ahead of the virtual of. 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