Slack Technologies Inc. announced on December 1 that it has agreed to be acquired by Salesforce.com Inc. for $27.7 billion in cash and stock. This is a transformative deal for the realm of enterprise communications services, creating an all-encompassing enterprise communications platform.
Slack provides a channel-based messaging platform that allows organizations to communicate internally and connects their software tools and services. Salesforce provides customer relationship management technology that allows companies to connect with their customers through existing and emerging technologies. The transaction is expected to close in the second quarter of Salesforce’s fiscal year 2022.
S&C acted as counsel to Goldman Sachs & Co. LLC, which served as financial adviser to Slack. The S&C team was led by John Savva.