Topic: How To Invest

Power Growth Investor Hotline – Friday, December 4, 2020

Article Excerpt

SLACK TECHNOLOGIES INC., $42.80, is now a hold. The tech company (symbol WORK on New York) provides firms with an online platform to help their teams of workers communicate through chat and direct messaging. The primary function of that software is to replace the use of email inside an organization. Unlike email, most the activity on the Slack platform happens in team-based “channels,” rather than in individual inboxes. Salesforce.com (symbol CRM on New York) has now formally agreed to buy Slack for $27.7 billion. Slack shareholders will get $26.79 in cash and 0.0776 of a Salesforce share for each share of Slack stock they hold. That equates to $44.32 based on Salesforce’s current stock price. Salesforce is a leading provider of on-demand customer relationship management (CRM) services. Its cloud-based software lets users manage and share information regarding sales, customer service and support, marketing operations, and data analytics. Salesforce has been trying for years to expand into providing the kind of workplace collaboration tools Slack offers…