![]() Microsoft Teams had 115 million daily active users as of October, up from the 75 million it announced in April and its 44 million from mid-March. Analysts say the addition of Slack - itself the chief competitor to Microsoft Teams - will give Salesforce a way to similarly connect all of its various apps and services by way of a collaboration tool, making it more competitive. The deal could help Salesforce compete with its longtime rival Microsoft, which has benefited from an explosion in use of its Microsoft Teams app amid the pandemic. It was valued at roughly $25 billion when markets closed on Tuesday. Before reports of the deal talks, Slack had a market cap of about $17 billion. Slack's stock was down over 3% on the news, while Salesforce shares went were also down about 3%. Slack shareholders will get $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share. The deal is a combination of cash and stock, a detail that CNBC first reported on Monday. ![]() It is Salesforce's largest acquisition ever and represents a more aggressive foray into office communication technology for the cloud giant at a time when remote work has made collaboration tools more essential. Salesforce is buying the workplace messaging app Slack for $27.7 billion, Salesforce announced on Tuesday. Account icon An icon in the shape of a person's head and shoulders.
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