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SalesforceNYSE: CRM said it intends to acquire customer-engagement platform Braze in a cash transaction valued at approximately $5.66 billion in enterprise value, expanding its marketing offerings with real-time, mobile-focused customer engagement capabilities.
Under the agreement, holders of Braze Class A common stock would receive $47.50 in cash per share. Robin Washington, Salesforce’s President and Chief Operating and Financial Officer, said the price represents about five times Braze’s expected fiscal 2028 revenue and approximately 2.5% of Salesforce’s enterprise value.
Salesforce expects to fund the purchase with cash and does not currently expect to require debt financing. Washington said the cash consideration is equivalent to roughly four months of Salesforce’s fiscal 2027 annual free cash flow.
Transaction Expected to Close in Fiscal 2028
The proposed acquisition remains subject to customary closing conditions, including approval from Braze shareholders and required regulatory approvals. Salesforce expects the transaction to close during its fiscal 2028.
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Mark Murphy, Salesforce’s EVP of Global Investor Relations, said the companies will remain independent and continue operating separately until the deal closes. Salesforce said there is no change to its fiscal 2027 financial guidance as a result of the anticipated timing of the transaction. The company has not provided fiscal 2028 guidance, and its fiscal 2030 framework remains unchanged.
Washington said Salesforce expects the deal to be growth accretive while creating near-term profitability dilution. The company expects post-close efficiencies over time and plans to report Braze’s revenue contribution for one year after the transaction closes.
Focus on Real-Time, Agentic Marketing
Patrick Stokes, Salesforce’s President of Applications and Marketing, said the acquisition is intended to address marketers’ need to engage consumers in real time across channels including apps, the web, email, SMS, WhatsApp and personal agents.
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