Who are Salesforce competitors

Slack is said to be about to be taken over by SAP competitor Salesforce

According to insiders, the SAP competitor Salesforce wants to incorporate the office chat provider Slack. Corresponding talks would be held, said people familiar with the matter to the Reuters news agency. According to reports on the negotiations, Slack shares climbed 24 percent on Wednesday, bringing the company to around $ 21 billion in the market. The paper was recently well below the record high of $ 42 last year.

Competition from Microsoft

The offer comes at a time when Slack, unlike many other technology groups, has problems benefiting from the digitization trend in the corona crisis. Above all, the fierce competition from Microsoft's Teams software makes it difficult for the company to acquire new business customers. In addition, in view of the economic downturn, Slack had to grant many discounts in order not to be completely replaced by teams, which is often included in the office software package.

According to insiders, the cloud pioneer Salesforce, which has grown strongly in the past through acquisitions, sees the possible takeover as a logical extension of its portfolio. So far it is unclear what price Salesforce would put on the table for Slack. According to someone familiar with the matter, Salesforce would rather pay in cash than in stocks.

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If the negotiations are successful, a deal could be announced before the Slack quarterly figures are published on December 9th. Salesforce already gives an insight into the past quarter on December 1st. Neither Slack nor Salesforce were available for comment. (APA / Reuters, November 26, 2020)