Salesforce formally announced plans to acquire workplace collaboration company Slack for $28B, following initial reports of the transaction last week. The deal follows several other enterprise software and cloud-related acquisitions made by Salesforce, including the $15B acquisition of Tableau in 2019. If completed, the acquisition would be the largest in Salesforce’s history.
More context: Slack provides a popular workplace messaging service. The company was among the fastest-growing enterprise software firms in history after its launch in 2013, but has faced increasing competition from new entrants including Microsoft Teams.