WORK - Wedbush sees long-term payoff for Salesforce from Slack deal

Wedbush Securities analyst Dan Ives weighs in on the $27.7B acquisition by Salesforce (CRM) of Slack (WORK). "The core reason for this deal in our opinion is to keep pace with the cloud behemoth in Redmond. Microsoft with its Azure/Office 365 cloud stack and Teams enterprise messaging solution set has dominated the cloud over the past few years and accelerated its growth during this COVID backdrop. With Salesforce having a treadmill approach to collaboration software with its Chatter solution and its 2016 acquisition of Quip gaining minimal traction, it was "now or never" to do a deal for Benioff. Slack despite facing stiff competition from Microsoft has been a clearly successful solution set further penetrating enterprises and thus looks like the natural fit for Salesforce to beef up its collaboration and messaging footprint and keep pace with Nadella & Co. with its cloud dominance. If Salesforce wants to expand beyond

For further details see:

Wedbush sees long-term payoff for Salesforce from Slack deal