Salesforce announces $5.66 billion deal for Braze, sending BRZE stock soaring 51%

TechPublished Tue, Oct 20 20269:34 AM EDTUpdated 15 Min AgoKey PointsSalesforce announced an agreement to buy Braze in a $5.66 billion deal Tuesday.Braze shareholders will receive $47.50 in cash per share under the terms of the deal.Shares of the customer engagement platform skyrocketed more than 51%. Sheldon Cooper | Lightrocket | Getty ImagesSalesforce announced an agreement Tuesday to buy customer engagement platform Braze in a deal worth about $5.66 billion.Under the deal, holders of Braze Class A common stock will get $47.50 in cash per share. Braze shares closed at $30.04 on Monday. The transaction is expected to close in fiscal 2028, subject to shareholder and regulatory approvals, according to a Salesforce blog.The stock skyrocketed more than 51% on Tuesday to close at $45.57 after a brief halt premarket following the news. The company makes artificial intelligence marketing tools to manage customer data and messaging."Salesforce shares our commitment to marketers, and we'll continue building as Braze and investing in the Braze community of customers and partners who built this company with us," Bill Magnuson, CEO of Braze, said in a statement. "Salesforce's platform will h...