Braze (BRZE) M&A announcement summary

Deal rationale and strategic fit

• Adds real-time, personalized mobile engagement for high-volume B2C brands, complementing Salesforce’s marketing portfolio and advancing its agentic marketing strategy.

• Combines customer behavior, engagement decisioning and journeys with Data 360, Customer 360, Agentforce and Salesforce channels to support individualized experiences at scale.

• Rising expectations driven by AI are increasing demand for fast, cross-channel engagement across apps, web, email, SMS, WhatsApp and personal agents.

Financial terms and conditions

• Class A common stockholders will receive $47.50 cash per share; consideration represents $5.66 billion in enterprise value, ~5x expected FY 2028 revenue and 2.5% of Salesforce’s enterprise value.

• Purchase is expected to be funded with cash, with no debt financing currently expected; the amount represents roughly four months of FY 2027 annual free cash flow.

• Expected to be growth-accretive, with near-term profitability dilution; post-close efficiencies are anticipated. FY 2027 guidance and the FY 2030 framework remain unchanged.

• Revenue contribution will be reported for one year post-close.

Synergies and expected cost savings

• Salesforce’s global go-to-market and distribution capabilities are expected to expand reach and drive top-line growth over time.

• Post-close efficiencies are anticipated, consistent with Salesforce’s current operating approach.