Salesforce appears to be closing in on its latest acquisition target, Slack. A deal may be announced Tuesday afternoon, CNBC reported today, with Salesforce paying a premium to Slack’s current price. That suggests Salesforce could pay more than $23 billion, the enterprise value of Slack implied by its closing price on Monday of $42.88.
That would make the deal nearly 60% bigger than Salesforce’s previous largest acquisition, the $14.8 billion purchase of Tableau last year. And it’s a reminder that Salesforce is one of those companies that maintains its growth rate by making ever-larger acquisitions—an approach common in industries like media but less so in tech.