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Slack went public in June 2019.
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Salesforce.com Inc. is in advanced talks to buy Slack Technologies Inc., according to people familiar with the matter, a deal that would unite a giant in business software with a buzzy newcomer on a mission to replace office email.
The companies could reach a deal within days — possibly by the time Salesforce reports its third-quarter financial results Tuesday, some of the people said. Slack WORK, +37.59%, with a market value of more than $17 billion as of Wednesday morning, would be Salesforce’s largest acquisition ever. There is no guarantee the companies will reach an agreement.
Salesforce CRM, -5.37% is the world’s biggest seller of software that companies use to manage their customer relationships. Started 21 years ago and run by co-founder Marc Benioff, it was a pioneer in providing software via the cloud through a subscription rather than a costly upfront installation. Benioff, chairman and chief executive, is one of Silicon Valley’s highest profile executives, a status he burnished with the purchase of Time magazine.
Salesforce has a market value of some $230 billion after years of big gains and its rich stock price—which trades at nearly 100 times its trailing-year profits—gives the company a valuable currency to use for takeovers.
An expanded version of this report appears on WSJ.com.
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