Inc. agreed to purchase Slack Applied sciences Inc. for $27.7 billion in money and inventory, giving the company software program large a preferred workplace-communications platform in one of many greatest expertise offers of the yr.

The transaction, Salesforce’s largest-ever acquisition, is predicted to shut by the top of July, the San Francisco-based firm stated Tuesday in a press release. Slack buyers will obtain $26.78 for every firm share in addition to 0.0776 share of Salesforce—representing a 55% premium to Slack’s value on Nov. 24, the day earlier than studies about deal talks between the businesses.

Salesforce Chief Govt Officer Marc Benioff has orchestrated greater than 60 acquisitions in 21 years, taking his firm from dot-com period upstart to a titan of cloud computing. The Slack deal would give Salesforce, the chief in packages for managing buyer relationships, one other angle of assault in opposition to Microsoft Corp., which has itself change into a serious power in internet-based computing. Microsoft’s Groups product, which gives a office chatroom, automation instruments and videoconference internet hosting, is a high rival to Slack.

“Collectively, Salesforce and Slack will form the way forward for enterprise software program and remodel the way in which everybody works within the all-digital, work-from-anywhere world,” Benioff stated within the assertion.

Stewart Butterfield, Slack’s co-founder and CEO, will proceed to run the enterprise as a Salesforce unit when the deal is accomplished, the businesses stated.

—Bloomberg Information