Salesforce has agreed to acquire Braze, Inc. at an enterprise value of about $5.66 billion, a deal that would expand its tools for tailoring marketing messages to customers’ actions.
Salesforce announced the agreement Oct. 20. Eligible holders of Braze Class A shares would receive $47.50 per share in cash, and Braze would become a wholly owned Salesforce subsidiary upon completion. Reuters reported that the offer is 58.1% above Braze’s previous closing share price.
The $5.66 billion figure describes the business’s enterprise value; the $47.50 price applies to each eligible Class A share. Salesforce has not presented the enterprise value as the total cash payment to shareholders.
Salesforce says Braze’s software responds to customer activity across apps, websites, email, text messages and WhatsApp. It expects the technology to help Marketing Cloud tailor communications using Salesforce’s customer data and artificial intelligence products. Those are anticipated benefits of the acquisition, which has yet to close.
Salesforce said Braze serves about 2,770 customers, including Canva, Dairy Queen, Equinox, Instacart, Urban Outfitters and Venmo. Salesforce has framed the purchase as part of its effort to make marketing decisions more responsive to customer behavior.
A merger agreement dated Oct. 19 sets out payments if the transaction ends under specified conditions. Salesforce could owe Braze $300 million in certain regulatory termination cases. Braze could owe Salesforce $191.39 million under some termination provisions, including circumstances involving a competing proposal.
Salesforce said it does not expect the transaction to change its fiscal 2027 guidance and has not issued guidance for fiscal 2028. It expects the acquisition to close during its fiscal 2028, subject to a Braze shareholder vote, required regulatory approvals and other customary conditions.
