Salesforce buys Slack for $27.7 billion in cloud company’s largest deal

Marc Benioff, founder, chairman and CEO of enterprise cloud computing company Salesforce.

Kim Kulish | Corbis News | Getty Images

Salesforce is making the biggest acquisition in its 21-year history. The company announced on Tuesday that it’s buying chat software developer Slack for over $27 billion.

Through a combination of cash and stock, Salesforce is purchasing Slack for $26.79 a share and .0776 shares of Salesforce, according to a statement. That comes to about $45.86 a share. Prior to initial reports of a deal last week, which led to a 38% pop in Slack’s shares, the stock was trading at under $30.

The purchase marks one of the largest ever for the software industry. The biggest was IBM’s $34 billion purchase of Red Hat in 2018, followed by Microsoft’s $27 billion acquisition of LinkedIn in 2016. Last year, the London Stock Exchange agreed to buy data provider Refinitiv for $27

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World’s Largest Free-Trade Pact Inspiration for Global Recovery

After four long years of diminished prospects, stagnation, and divisive geopolitics, four summits could show the way toward a better future.

Recently, Moscow hosted the 12th BRICS Summit. Malaysia is hosting the APEC Summit. And Riyadh will welcome the world leaders into the highly-anticipated G20 conference.

Importantly, these high-level events followed the signing of the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free-trade pact, which could help build multiple new paths toward a shared future.

The global economy is expected to shrink by 5 percent in 2020. World trade is likely to plummet by 20 percent. After misguided trade wars and the pandemic, global cooperation across all differences is vital to defeat the pandemic and facilitate economic recovery.

World’s largest free-trade pact, to act as inspiration

In the ASEAN Summit last weekend, after nearly a decade of talks, 15 countries signed the Regional Comprehensive Economic Partnership (RCEP).

The

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The world’s largest wealth manager names 4 sub-sectors poised to be the ‘next big thing’ for investors

Wall Street coronavirus


  • After tech and consumer discretionary sectors dominated the last decade, investors should look elsewhere for the next market leader, Mark Haefele, chief investment officer of UBS Wealth Management, said Wednesday.
  • After a decade of outperformance, the sectors have a 25% chance of becoming one of the two worst-performing groups over the next 10 years, UBS said. They only have an 8% chance of repeating their previous outperformance.
  • “We think the next decade will reward investing in the disruptors in sectors undergoing technological transformation,” Haefele said.
  • Here are the 4 sectors set to be the “next big thing,” according to the world’s largest wealth manager.
  • Visit the Business Insider homepage for more stories.

Investors should look elsewhere for the “next big thing” following a decade of tech-sector dominance, Mark Haefele, chief investment officer of UBS Wealth Management, said Wednesday.

Since 1973, sectors that led the market over an

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Series X launch is ‘largest in Xbox history’ as Microsoft tries to meet demand

Microsoft this week had its largest Xbox launch ever. After debuting on Tuesday, the Series X (XSX) and all-digital counterpart Series S are sold out at most major retailers, with Microsoft execs both promising a “resupply” soon. Here’s a tweet from Xbox chief Phil Spencer:



a close up of a speaker: (Microsoft Photo)


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(Microsoft Photo)

The XSX does have the advantage of initially launching in 37 countries, which is almost three times as many as the Xbox One launch in 2013. Even so, in order to have beaten the previous sales record set by the Xbox One, the XSX

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