Braze Shares Jump 51% as Salesforce Agrees $47.50 Cash Takeover

Braze (NASDAQ: BRZE) shares jumped about 51% today after Salesforce (NYSE: CRM), the enterprise software group, agreed to buy the customer-engagement platform for $47.50 a share in cash. The offer values Braze at about $5.66bn including debt.

Braze traded at $45.30 by 3.48pm London time, up from $30.04 at yesterday’s close, and its intraday high of $45.58 is above the $37.327 high of the past year. Salesforce was at $240.67 at 3.49pm, down 0.73% from $242.45.

BRZE.US

1M 3M 6M 1Y 5Y

Salesforce announced the deal at 1pm London time, before the US open, and Braze trading was halted ahead of the open. Braze’s board approved the merger agreement unanimously. It was signed yesterday.

Braze sells software that lets brands send personalised messages across mobile apps, email, SMS and WhatsApp, and says it has about 2,770 customers, including Instacart, Venmo and Canva. It will add to Salesforce Marketing Cloud, the group’s marketing software. Patrick Stokes, Salesforce’s President, Applications and Marketing, said:

Bringing that capability together with Salesforce Marketing Cloud, CRM, and Data 360 will deliver that wow moment in every customer interaction.

Patrick Stokes, Salesforce

At $45.30, Braze sits $2.20, or 4.9%, below the offer. Completion is expected in Salesforce’s fiscal 2028, which starts in February 2027, and needs a Braze shareholder vote and regulatory approvals. The gap probably reflects a long wait, and further gains would probably need a rival bid.

The offer is also well above where Braze stood a year ago, when it was $28.66, and about 211% above its February low of $15.26.

Co-founders Bill Magnuson and Jon Hyman have signed agreements to vote for the deal. Salesforce does not expect any change to its guidance for its current fiscal year.

Salesforce is projected to report results on the 2nd of December and Braze on the 8th of December. Neither date is company-confirmed.