Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sarah Grillo/Axios

Salesforce on Tuesday afternoon said the company will pay $27.7 billion in cash and stock to buy workplace collaboration platform Slack.

Why it matters: This is the largest software merger since IBM agreed to buy Red Hat in late 2018, and it creates a cloud giant that can better compete with Microsoft.

Details: Slack shareholders will receive the equivalent of $45.86 per share, including $26.79 in cash, which represents a 55% premium to Slack's trading price before news of the pending deal leaked.

  • Slack co-founder and CEO Stewart Butterfield will continue to lead the company.
  • The deal is slated to close in the middle of next year, pending Slack shareholder and regulatory approval.
  • Shares of Salesforce dipped slightly after Tuesday's announcement, changing hands recently at $233.81, down $7.80, or about 3%. Slack shares were largely unchanged, trading recently at $43.80, down 11 cents, or 0.25%.

Between the lines:

  • Salesforce has been eyeing an acquisition that would boost its usage throughout a company versus being limited to specific departments. It previously eyed Twitter and also made a bid for LinkedIn, though Microsoft ended up with the winning offer on that deal.
  • Slack has managed to do quite well on its own, but faces increasing competition, especially from Microsoft, which is able to offer its Teams product as part of a larger bundle — something Slack would have trouble doing on its own.

What's next: The deal still needs regulatory approval as well as the official OK from Slack shareholders. Salesforce noted in its press release announcing the deal that it has already secured the support of Slack shareholders, representing 55% of shares.

Go deeper: Salesforce rolls the dice on Slack

Go deeper

Ina Fried, author of Login
Dec 16, 2020 - Technology

Tech's hidden hand in the vaccine rollout

Illustration: Annelise Capossela/Axios

Technology companies including IBM, Oracle, and Salesforce are working with governments and health agencies to manage the massive task of rapidly distributing the COVID-19 vaccines.

Why it matters: It's critical to make sure the limited supply of vaccines is distributed equitably and without wasting precious doses.

North Carolina Sheriff's deputy fatally shoots Black man

A Black man was fatally shot by a North Carolina sheriff's deputy in Elizabeth City, northeast of Raleigh, on Wednesday, igniting protests in the local community.

Details: Pasquotank County Sheriff Tommy Wooten said at a news briefing the State Bureau of Investigation was investigating the shooting of Andrew Brown Jr., which happened about 8:30 a.m as deputies were serving a search warrant.

Pew: Over 80% of Asian adults say violence against them is increasing

Photo: Spencer Platt/Getty Images

More than 80% of Asian adults say that violence against them is increasing, according to a new Pew Research Center survey.

The big picture: The survey, conducted April 5-11, comes after the recent shootings in Atlanta in which eight people, including six Asian women were killed, as well as a yearlong spike in hate incidents against the Asian American and Pacific Islander (AAPI) community.