Salesforce might be getting ready to acquire Slack. Investors took that news greatly and slack stock price went up by 24% during last 24 hours.
Slack is a proprietary business communication platform developed by American software company Slack Technologies. It went public back in April of 2019 and Slack set the $26 price of a single share which valued company at $15.7 billion at that time.
We are not sure why customer management service giant Salesforce is considering acquiring Slack, however it had positive effect on slacks price, which is trading at around $36 at the time of writing this article.
There might be great benefits for both companies if this deal goes through. Salesforce and Slack both might have opportunity to grow their customer base by cross-selling between their platforms.
This kind of huge acquisitions don`t happen too often, so it might be great time for traders and investors to think about Slack (Ticker: WORK) and Salesforce (Ticker: CRM) and consider how to make additional returns on their investments from those two.
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