Salesforce has agreed to acquire customer engagement software provider Braze for $47.50 per share in cash, a transaction valued at $5.66 billion. The announcement drove Braze stock to close at $45.57, a 51.70% increase, on trading volume that was approximately 1,799% above its three-month average.
The deal follows Salesforce's June acquisition of AI customer service company Fin for $3.6 billion, continuing a pattern of strategic purchases for the enterprise software firm. Salesforce, which has partnered with Anthropic, aims to integrate AI into its core offerings, with Braze's real-time messaging and AI marketing capabilities positioned to support that objective. The acquisition price represents roughly seven times Braze's trailing sales, a valuation that reflects the company's status as a pre-profitability entity.
Market reaction varied across the sector. While Braze shares surged, Salesforce stock closed essentially flat at $242.44, down 0.01%. Peer Klaviyo also rose, closing at $19.59, up 11.82%. Broader indices showed mixed results, with the S&P 500 closing at 7,711, up 0.26%, and the Nasdaq Composite finishing at 26,425, down 0.02%.
Braze, which went public in 2021, had fallen 51% since its initial public offering prior to the announcement. With the deal expected to close in 2027, the stock now trades within 4% of the acquisition price. Investors will monitor the transaction for potential competing bids or regulatory hurdles as it moves toward completion.