Shares of Slack Technologies (NYSE: WORK) soared 25.08% after the news that Saleforce.com (NYSE: CRM) is in discussion to buy the software company. It has not confirmed yet whether both the companies will finalize the deal but this acquisition would be a major step by the software maker.
The total market capitalization of Slack Technologies is $16.00 billion. Additionally, saleforce.com has two communication tools including Quip and Chatter. It has been reported that the acquisition would be a major challenge for Microsoft Corporation. Saleforce.com has earlier bought Tableau for $15 billion in 2019 and MuleSoft for $6.5 billion in 2018.