Salesforce agrees to acquire Braze for $47.50 per share in cash
Oct 21, 2026
Salesforce (NYSE: CRM) announced on Tuesday, October 20, 2026 that it has agreed to acquire Braze (NASDAQ: BRZE), a customer engagement platform, in an all-cash transaction.
Deal terms
According to Salesforce's announcement:
- Braze shareholders will receive $47.50 in cash for each Class A share
- the transaction values Braze at an enterprise value of about $5.66 billion
- the deal is expected to close in Salesforce's fiscal year 2028, which begins on February 1, 2027
- completion requires approval from Braze shareholders and regulatory clearances
- Salesforce said it does not expect the deal to change its fiscal 2027 guidance
Braze plans to file a proxy statement with the US Securities and Exchange Commission ahead of the shareholder vote. The agreement includes termination fees payable in certain circumstances.
What Braze does
Braze helps companies communicate with their customers through mobile apps, websites, email, SMS and other channels. Brands use it to send personalised messages, such as reminders, offers and notifications, based on how customers use their products. According to Salesforce, Braze has about 2,770 customers, including Canva, Dairy Queen, Equinox, Instacart, Urban Outfitters and Venmo.
How Braze fits into Salesforce
Salesforce said Braze will strengthen its Marketing Cloud offering and will work alongside its Data 360 and Customer 360 platforms and its Agentforce AI agents. Braze's co-founders, chief executive Bill Magnuson and chief technology officer Jon Hyman, will continue to lead the business within Salesforce.
Patrick Stokes, President, Applications and Marketing at Salesforce, said: "Every interaction is an opportunity to wow your customers." Bill Magnuson said Braze was built on the belief that marketers and their creativity give brands a competitive advantage.
How customer engagement platforms work
Customer engagement platforms collect information about how people use a company's app or website, such as what they view, buy or leave in a basket. Marketers can then use this information to decide which message to send, through which channel and at what time. AI tools are increasingly used to choose these messages automatically and to test which ones work best.
About Salesforce
Salesforce, based in San Francisco, is one of the largest providers of customer relationship management (CRM) software, which companies use to manage sales, customer service and marketing. In recent years, it has added data and AI products, including Agentforce, which allows companies to build AI agents that handle tasks for customers and employees. Salesforce has a long history of acquisitions, including Slack, Tableau and MuleSoft.
Why software companies make acquisitions
Large software companies often buy smaller companies to add products, customers or technology that would take longer to build internally. In marketing software, companies compete to offer a single platform where businesses can manage customer data, analyse behaviour and send messages. Combining products can make it easier to sell to existing customers, but integrating different technologies and teams can be difficult.
Advisers
J.P. Morgan is acting as financial adviser to Salesforce, with Wachtell, Lipton, Rosen & Katz and Covington & Burling as legal advisers. Qatalyst Partners is financial adviser to Braze, and Davis Polk & Wardwell is its legal adviser.
What to watch
Key items in the coming months include the filing of Braze's proxy statement, the shareholder vote, regulatory reviews and the timing of completion. Salesforce's next quarterly results and any comments on how Braze will be integrated may also be of interest.
Risks and uncertainties
Acquisitions may not be completed on the expected timetable or at all, and regulators may require changes. Integrating an acquired company carries risks, including the loss of customers or staff. Software shares can be volatile.
What this means for investors
For Investing.one users following CRM or BRZE, the deal terms and the approval process may be relevant. The information above is based on Salesforce's announcement.
Sources
This is not investment advice. Your capital is at risk.
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