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Slack Technologies to be acquired by Salesforce

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Miguel A. Rodriguez
Miguel A. Rodriguez
26 November 2020
Slack stocks surged after the news

According to the latest rumors, a new deal could be in sight.  

Salesforce – one of the latest S&P 500 additions is in talks to buy Slack Technologies. So far, details about the possible deal haven't been made public, but when the news hit the market, Slack's market cap surged to over $20 billion.

This won't be Salesforce's first acquisition, as in the past couple of years, it spent more than $21 billion to purchase two companies. In 2018 it bought MuleSoft for $6.5 billion, and in 2019 it paid $15.3 billion on Tableau – a company specialized in data visualization.

However, Slack's deal could be among the largest in the industry and could rank the company next to IBM, Microsoft, and Facebook.

According to the Wall Street Journal, the deal could be announced as soon as next week.

Following the news, Slack share price jumped roughly 38%, while those of Salesforce plunged more than 5%.

Sources: wsj.com, cnbc.com, finance.yahoo.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.