Buying Slack could give Salesforce its own chat platform for business users to share customer records.
Salesforce wants to buy enterprise chat company Slack as part of a plan to expand its products for businesses, according to the Wall Street Journal. The acquisition discussions were reported on Wednesday and follow Slack’s difficulties in capitalizing on the shift to remote working during the COVID-19 pandemic. The Wall Street Journal reports that a deal could be struck within days, possibly ahead of Salesforce’s Q3 earnings report on December 1. Slack is also due to report its Q3 earnings on December 9. Slack’s revenues are based on the number of seats it sells to each customer. Its Q2 revenues took a hit from customers that have downsized or shut down as a result of the pandemic, as well as from spending cutbacks by larger customers. Slack shares ended trading on Tuesday at $29.57, but shot up to $38.05 after news of acquisition talks. That’s still below the $42 high on Slack’s first day of trading last June.
