Salesforce Holding Talks in Regard to Acquiring Slack

San Francisco based Software Company Inc. (CRM) is currently engaging fellow software company Slack Technologies Inc. (WORK) in regards to acquiring the workplace messaging app.

Since coronavirus pandemic set foot many employees have been forced to work from home to minimize exposure to the deadly virus. This development hasn’t worked well for Slack because the company has been struggling to keep up with stiff competition from Microsoft Corp. (MSFT) owned Team and others workplace platforms.

I think Microsoft Teams has been able to capitalize on the opportunity better than Slack, partly because they give it away for free as a bundle,” said analyst Rishi Jaluria. “Now Slack realizes that they might be able to get greater penetration as part of a larger company,” added the analyst.

Salesforce is seeking to divulge hence it’s looking at this possible acquisition as a logical extension of its enterprise offerings.

Involved sources failed to reveal exact amount Salesforce is bidding for the purchase but said the company is intending to use cash only without involving stocks to pay for the deal.

Additionally, the source said if ongoing talks yield fruits the deal could be announced before Slack report its upcoming quarterly results slated for December 9.

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