Salesforce has agreed to purchase customer engagement platform Braze for approximately $5.66 billion. The deal is a cash one. Holders of Braze Class A common stock will receive $47.50 per share. According to a Salesforce blog, the transaction is expected to close in fiscal 2028.
The market reaction was sharp. Braze shares closed at $30.04 on Monday. Then they skyrocketed more than 50% on Tuesday, following a brief premarket halt. Salesforce shares, by contrast, slipped roughly 1% on Tuesday morning.
Braze makes artificial intelligence marketing tools to manage customer data and messaging. Bill Magnuson, CEO of Braze, said in a statement that Salesforce shares the company's commitment to marketers. He added that the platform will help Braze innovate faster, allowing both companies to help marketers build deeper relationships with their customers.