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The CRM powerhouse acquired Slacks for $ 27.7 billion. Slack’s CEO Stewart Butterfield says it is the most strategic combination in the history of software. The powerhouse which had surpassed the $20 billion annual revenue mark bought Slacks, which had lost 40% of its value after going public.

Salesforce co-founder and CEO Marc Benioff didn’t mince words on his latest purchase. “This is a match made in heaven.Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world,” Benioff said in a statement.

Slack CEO Stewart Butterfield was no less effusive than his future boss. “As software plays a more and more critical role in the performance of every organization, we share a vision of reduced complexity, increased power and flexibility, and ultimately a greater degree of alignment and organizational agility. Personally, I believe this is the most strategic combination in the history of software, and I can’t wait to get going,” Butterfield said in a statement.

From Tech Crunch

According to Google Finance and Yahoo, the current valuation of Slacks is $25 billion, yet Sales bought it for an additional $2.7 billion. Even before the deal was final, the Slack stock price spiked. This combination puts Sales at par with its competitors like Microsoft in the market.