Salesforce Offers $5.7 Billion to Acquire Braze
Salesforce announced a $5.7 billion cash offer to acquire customer-engagement platform Braze at $47.50 per share to enhance real-time business personalization.
Salesforce, Inc. announced a cash offer to acquire Braze, Inc. for $5.7 billion, valuing the customer-engagement platform at $47.50 per share. The offer represents a 58% premium over the previous closing price of $30.04.
Salesforce intends to integrate the Braze platform to allow businesses to respond to customer behavior in real time and improve personalization across various communication channels. Financial analysts noted the acquisition price is approximately 74 times Braze's projected annual earnings and just over six times its projected annual sales.
Market reactions were immediate following the announcement. Braze stock rose 51%, and shares of rival Klaviyo increased 11%. Conversely, Salesforce shares fell 2%.
