The software service provider Salesforce.com, Inc. (CRM) recently went through an acquisition deal with Slack Technologies Inc. (WORK) and published a bid. As Salesforce plans to build an operating system (OS) for remote work, the deal could be a significant event for the market.
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For Slack, Salesforce provides $26.79 per share in cash and 0.0776 CRM shares. This values Slack at $27.7 billion and provides long-term shareholders of Slack with a substantial premium.
Salesforce has a long history of acquisitions, and this company’s shareholders are familiar with large transactions and additional shares released. The skepticism that the Slack acquisition will ever be repaid has contributed to a decline in Salesforce shares. However for the technology integration of the business, collaboration with Slack management can have great value.
The COVID-19 crisis, also in government organizations, has speeded up the acceptance of the idea of remote work. Salesforce seeks to get ahead of its rival, Microsoft, to become the tech industry leader for managing remote and mobile employee collaboration as well as dispersed teams. Salesforce is moving to build an environment capable of functioning as a remote operating system. This is an incredibly important field for IT as it relies on the competitiveness of many business entities in the near future. Many firms would have to operate in a completely digital environment and to connect with professionals who rely on company prospects. The importance of sophisticated systems for remote work would therefore increase.
Salesforce.com, Inc. (CRM) stock was worth $223.10 while that of Slack Technologies Inc. (WORK) was $42.32t close of the business on Thursday. Over the past week both has face declines but those are marginal as the Salesforce retrieved with a rise 0.88% while Slack’s loss was -0.45% as on Thursday, December 10.