M&ATMTSIGNED
Salesforce to Acquire Customer Engagement Platform Braze for $5.7 Billion
Value
$5.7Bn
Acquirer
Salesforce
Target
Braze
Salesforce has announced its intention to acquire Braze, a customer engagement platform, in a deal valued at $5.7 billion. This acquisition is expected to enhance Salesforce's customer relationship management capabilities.
✦ Meridian Analysis
Salesforce has signed an agreement to acquire customer engagement platform Braze for $5.7 billion, according to Axios. Under the terms of the transaction, Braze stockholders will receive $47.50 per share, which represents a 58% premium to yesterday's closing price. Braze went public in 2021 at $65 per share. Salesforce dissolved its board M&A committee in 2023. This year it's paid multi-billions for Listen Labs and Fin, let alone last year's $8 billion blockbuster for Informatica.
Deal professionals monitoring this space will note the substantial control premium offered relative to yesterday's closing price, juxtaposed against Braze's 2021 initial public offering price.
Specific details regarding the financing structure of the $5.7 billion purchase price, the complete adviser roster, and the expected closing timetable have not been publicly disclosed. Market participants will watch for regulatory clearance filings and further disclosures on how Salesforce intends to fund the acquisition.
The Meridian Weekly
The week's largest deals and the Iberian ones, every Monday. Free.