![]() ![]() Last year it purchased data visualization company Tableau for $15.3 billion, and in 2018 it bought tech integration platform MuleSoft for $6.5 billion. Slack is Salesforce's third big acquisition target in the past two years. The stock recovered over the summer to reach a then-high of $40 per share as stay-at-home pandemic stocks like Zoom, Peloton, and Netflix surged, but bearish analyst sentiment once again sank Slack shares in October. By September, however, shares had plunged 33% in the wake of tepid financial results and investor worries about competition from Microsoft. ![]() Slack held its highly anticipated direct listing on the New York Stock Exchange in June 2019, pricing shares at $26 and seeing them end their first day of trading at nearly $39. ![]() "If Salesforce wants to expand into enterprise and beyond its core gold mine of sales and marketing departments, this was the moment," he adds, noting that the move "represents a major shot across the bow against Microsoft." What To Watch ForĪlthough Salesforce investors are due for "modest dilution" due to the transaction's equity component, Ives said the near-term pain should be worth the long-term gain and pointed to massive opportunity in the $1 trillion of cloud spending expected over the next decade. ![]() "Despite facing stiff competition from Microsoft, Slack has been a clearly successful solution set penetrating enterprises and thus looks like the natural fit for Salesforce to beef up its collaboration and messaging footprint–and keep pace with cloud dominance," Ives said Tuesday. Last Wednesday, a Dow Jones report that Salesforce was in talks to acquire Slack sent shares of the business communication app soaring 25% toward rumored acquisition levels Slack stock, which has nearly doubled in price this year, climbed 2% on Tuesday. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |