Topic: How To Invest

Power Growth Investor Hotline – Friday, July 23, 2021

Article Excerpt

SLACK TECHNOLOGIES INC. (formerly symbol WORK on New York) ceased trading on Wednesday this week after Salesforce.com completed its acquisition of the company. Slack 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) 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.com bought Slack for $27.7 billion. Slack shareholders got $26.79 in cash and 0.0776 of a Salesforce share for each Slack share they held. That equates to $45.58 for each Slack share. When we first recommended Slack in our September 2019 issue at $30.80 a share, we thought that a tech giant,…

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