Morrison & Foerster is advising Salesforce (NYSE: CRM), the global leader in CRM, on the intellectual property, privacy and regulatory aspects associated with the company's recently announced deal with Slack Technologies, Inc. (NYSE: WORK).
The two companies announced on December 1, 2020 that they have entered into a definitive agreement under which Salesforce will acquire Slack. Under the terms of the agreement, Slack shareholders will receive $26.79 in cash and 0.0776 shares of Salesforce common stock for each Slack share, representing an enterprise value of approximately $27.7 billion based on the closing price of Salesforce's common stock on November 30, 2020.
Combining Slack, the most innovative enterprise communications platform, with Salesforce Customer 360 will be transformative for customers and the industry. The combination will create the operating system for the new way to work, uniquely enabling companies to grow and succeed in the all-digital world.
The MoFo deal team was led by San Francisco Technology Transactions partner Tessa Schwartz and of counsel Justin Haan, Palo Alto Privacy partner Christine Lyon, San Francisco Technology Transactions associates Brianna Liang Velasco and Alex Siegel, New York Privacy associate Cecillia Xie, and Palo Alto Privacy associate Eleanor Anthony.
For more information, read Salesforce's press release.