![]() ![]() ![]() Slack and Salesforce are headquartered about a block away from each other in San Francisco. Ives said Benioff was also running out of time to catch up to Microsoft, which remains a secondary player in Salesforce's core customer-relations-management business, known as CRM, but way ahead in providing a broader array of cloud-based services. "The Zooms, the Slacks, the Microsoft Teams, that's going to be a new part of the workforce." "I think the pandemic's played a massive role" in paving the way for the deal, Ives said. She said the need for customer-relations agents and other Salesforce users to swarm around a topic and collaborate remotely has only grown with the coronavirus pandemic that has sent so many office workers home and got many hooked on new online tools. "Microsoft Teams is eating Slack's lunch."īut Leggett said it's also "really good for Salesforce" to add a popular collaboration tool to its own software suite, which is focused on managing customer relationships for businesses and government agencies. "This is a stellar exit strategy for Slack," said Kate Leggett, an analyst at Forrester Research. "It's just clear Microsoft is moving further and further away from Salesforce when it comes to the cloud wars." "For Benioff, this is all about Microsoft," said Wedbush Securities analyst Dan Ives. Microsoft also has been posing a threat to Salesforce's main products, a line-up of tools that help other companies manage their customer relationships. In July, Slack filed a complaint in the European Union accusing Microsoft of illegally bundling Teams into Office 365 in a way that blocks its removal by customers who may prefer Slack. Microsoft for one has developed its own thriving online suite of services, known as Office 365, which includes a Teams chatting service that includes many of the same features as Slack's 6-year-old application. Salesforce's flamboyant founder and CEO Marc Benioff hailed the "cloud computing" concept as the wave of the future to much derision, initially.īut software as a service has become an industry standard that has turned into a gold mine for longtime software makers. Julia La Roche is a correspondent for Yahoo Finance. ![]() Shares of Salesforce are up 7.9% year-to-date. Shares of Salesforce were last trading up 0.14%, or 34 cents, near $240.45 in the pre-market. Every business-in every industry-has to optimize for a digital-first customer, employee, and partner experience," the company said in its announcement. "Headquarters are no longer on Madison Avenue or Main Street-they are in the cloud. Last week, the Department of Justice told the company it closed its antitrust investigation of the deal, giving the green light for the transaction's close.Īs companies debate the future of work post-COVID, Salesforce said companies learned last year that "if you don't have a digital way to connect with your employees, customers, and partners, you don't have much of a chance of surviving." In December, Salesforce signed a definitive agreement to acquire the popular messaging software platform Slack Technologies in a cash and stock deal worth $27.7 billion, making it Salesforce's largest-ever acquisition. I could not be more excited for what's to come," Butterfield added. "Salesforce and Slack are uniquely positioned to lead this historic shift to a digital-first world. ![]()
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