Salesforce is planning to buy AI marketing company Braze, sending BRZE shares surging 50%
A move announced by the software-as-a-service giant Salesforce (NYSE: CRM) is sending the stock price of a relatively unknown AI marketing firm surging this morning. Here’s what you need to know. What’s happened? On Tuesday morning, Salesforce announced plans to acquire digital marketing firm Braze (Nasdaq: BRZE) for about $5.66 billion. According to the terms of the deal, Salesforce will pay…
Software giant Salesforce announced plans on Tuesday to acquire AI marketing firm Braze for approximately $5.66 billion. Braze's AI-powered multichannel marketing solutions will be integrated into Salesforce's offerings. This move comes at a time when businesses are increasingly turning to AI solutions, raising concerns about the future of legacy software-as-a-service companies.
Salesforce believes that combining Braze's capabilities with its own will give it an edge. Braze, headquartered in New York, was founded in 2011 and primarily serves enterprise customers. It allows companies to interact with customers across multiple channels, including WhatsApp, email, and mobile websites. The company has around 2,770 customers, including Venmo and Canva.
With the deal, Salesforce is paying $47.50 per Braze share. The stock price of Braze surged more than 50% in response to the news, reaching $45.33 per share. The deal is expected to close during Salesforce's 2028 fiscal year.
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