Cloud-based software company, Salesforce, is all set to acquire workplace messaging app Slack, as part of its efforts at business expansion. Slack is an American workplace communication app, which offers chat rooms and an organised way of communication, to facilitate effective teamwork. However, of late, amidst the growing remote working culture, it has been facing stiff competition from Microsoft Teams and other apps, such as Google Meet and Zoom.
Another fact that went against Slack is that Microsoft Teams comes as part of many of Microsoft’s office packages, that means, at no extra cost, which is a huge saving for customers and eats into Slack’s potential customer base.
Salesforce.com, the American cloud-based software company, offers customer relationship management service, as well as a complementary suite of enterprise applications to facilitate customer service, marketing automation, analytics, and application development. Acquisition of Slack will only add to its enterprise offerings.
Though the deal is yet to be finalised rumours are that Salesforce will pay in cash for this acquisition, which will probably be its largest till date. Slack’s market value exceeds $17 billion.
Slack’s app witnessed 12.6 million installations this year, that is, 50 per cent more than it did during the same time last year.
The deal is expected to be closed and made public by the first week of December.