Salesforce agrees to buy marketing software company Braze for about $5.66 billion

Salesforce said on 20 October that it has signed a definitive agreement to acquire Braze, a customer engagement platform used by marketers, for about US$5.66 billion in enterprise value.

Under the terms announced by Salesforce, holders of Braze Class A common stock will receive US$47.50 in cash per share. The companies said the deal is expected to close in Salesforce’s 2028 financial year, subject to approval by Braze shareholders, regulatory approvals and other customary conditions. Salesforce said there was no change to its guidance for the 2027 financial year.

Braze’s software sends personalised messages to customers through apps, websites, email, SMS and WhatsApp based on their behaviour, according to the Salesforce announcement. Salesforce said Braze has about 2,770 customers, including Canva, Instacart and Venmo, and that its technology is expected to be combined with Salesforce’s Marketing Cloud and its Agentforce AI products.

“Braze was built to turn live customer behavior into personalized engagement at scale,” said Patrick Stokes, Salesforce’s president of applications and marketing.

Braze chief executive and co-founder Bill Magnuson said the company would “continue building as Braze” and that “Salesforce’s platform will help us innovate faster”.

J.P. Morgan is advising Salesforce and Qatalyst Partners is advising Braze, according to the announcement.