Salesforce in talks to acquire workplace app Slack: Report

Cloud-based software company Salesforce.com Inc is in talks to acquire workplace messaging app Slack Technologies Inc as it seeks to expand its offerings to businesses, people familiar with the matter said on Wednesday.

Salesforce’s bid comes as Slack struggles to fully capitalize on the switch to remote working during the COVID-19 pandemic in the face of fierce competition from Microsoft Corp’s Teams and other workplace apps

Slack shares ended trading on Tuesday at $29.57, well below the $42 high they reached on their first day of trading last year.

Salesforce sees the potential acquisition as a logical extension of its enterprise offerings, the sources said. The price it was offering for Slack could not be learned, though one of the sources said Salesforce would pay cash for the deal, rather than use its stock as currency.