Salesforce is considering buying Slack Technologies

November 26, 2020

One of the largest transactions in the tech sector could be happening next week

According to the latest report from the Wall Street Journal, a new deal could happen in the tech sector.

One of the latest S&P 500 added companies – Salesforce is supposedly in talks to buy Slack Technologies – one of Microsoft’s competitors when it comes to communication platforms such as Teams.

In the past years, Salesforce has been on a shopping spree, spending over $21 billion on two companies: MuleSoft, which was purchased in 2018, and Tableau, bought in 2019.

The agreement details haven’t been made public, but if they go through, they could make this be one of the most expensive deals in the industry, coming close to the ones done by IBM, Microsoft, and Facebook. The acquisition is said to be announced next week.

After the news hit the wire, Slack stock price surged more than 38%, while Salesforce’s dropped over 5%.

Sources: wsj.com, finance.yahoo.com

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