Salesforce to buy Braze for $5.66 billion

Salesforce (CRM) has entered into a definitive agreement to acquire customer engagement software company Braze in a cash deal valued at approximately $5.66 billion in enterprise value. The proposed acquisition is aimed at bringing Braze’s customer engagement capabilities into Salesforce’s broader customer relationship management platform.

Under the agreed terms, holders of Braze Class A common stock will receive $47.50 in cash for each share they own. The price implies a roughly 58% premium to Braze’s prior closing share price of about $30.04, placing a substantial cash value on Braze’s equity.

The companies expect the transaction to close during Salesforce’s fiscal year 2028, provided it receives approval from Braze shareholders and the required regulatory clearances. These are described as customary closing conditions for a deal of this nature.

Until completion, Braze will continue to operate as a separate company. The agreement specifies a cash consideration structure, which means Braze shareholders will be paid fully in cash rather than stock or a mix of securities.

Following disclosure of the deal, Salesforce’s shares declined about 2.6% in premarket trading. The move suggests investors are reassessing Salesforce’s near-term financial profile in light of the planned $5.66 billion cash outlay.

Trading in Braze shares was suspended ahead of the market open as the market digested the news of the acquisition. Once trading resumed in premarket hours, Braze’s stock price jumped, with reports indicating an increase of about 51%, reflecting the premium embedded in the $47.50 per‑share cash offer.

Braze provides customer engagement software and serves approximately 2,770 customers. Its client roster includes brands such as Canva, Dairy Queen, Equinox, Instacart, Urban Outfitters (URBN) and Venmo, spanning digital platforms, retail, fitness and financial technology.

By adding Braze’s real-time engagement tools and established customer base, Salesforce is positioned to enhance its existing marketing and customer relationship offerings if the deal is completed as planned. The combination would link Braze’s capabilities with Salesforce’s broader ecosystem to support more targeted and coordinated customer interactions.