Slack CEO and co-founder Stewart Butterfield will continue to lead the new subsidiary within Salesforce. “Together we’ll define the future of enterprise software, creating the digital HQ that enables every organization to deliver customer and employee success from anywhere,” Salesforce CEO Marc Benioff said in a statement. The companies announced the acquisition in December. Department of Justice had closed its antitrust investigation into the acquisition.

Securities and Exchange Commission on July 16 that the U.S. Senior Salesforce staff were skeptical that they could increase sales by bundling and integrating Slack with its other products-a core rationale for the acquisition.Salesforce said Wednesday that it officially closed its blockbuster $27.7 billion acquisition of collaboration app Slack as the San Francisco tech giant aims to enter the work-from-anywhere technology arena. Before the deal was even consummated, Benioff went out of his way to distance himself from Slack in public and private conversations, repeatedly telling colleagues and outside observers that Bret Taylor, who was then president and chief operating officer at Salesforce, was the deal’s architect. Mutual distrust between Benioff and Slack CEO Stewart Butterfield became a distraction, according to more than a half-dozen current and former employees with direct knowledge of the situation.

Two years ago, Salesforce co-founder and CEO Marc Benioff gushed about his software company’s $28 billion purchase of messaging app Slack, describing it as a “match made in heaven.” It was also the most expensive subscription software acquisition of all time, with Salesforce paying around 26 times Slack’s forward revenue-a price tag that carried high expectations.īut problems emerged from the start.

Salesforce acquisition of slack