Salesforce to Buy Braze in $5.66 Billion Cash Deal
Salesforce agreed to buy Braze for $47.50 a share in cash, a transaction with about $5.66 billion in enterprise value. Braze shares jumped 51% and now sit just below the offer, suggesting investors expect the deal to close. The purchase still needs shareholder and regulatory approval and is not expected to close until Salesforce’s fiscal 2028; Salesforce stock fell 3% while Klaviyo rose 12%.
Braze’s board backed the sale unanimously, and its two co-founders, including CEO Bill Magnuson, plus Battery Ventures’ Neeraj Agrawal, signed voting agreements supporting it. Salesforce aims to fold Braze’s live customer-behavior and personalization tools into Marketing Cloud, Agentforce, CRM, and Data 360.
Braze generated $738 million in revenue in the year through January 2026, more than double its level three years earlier, and analysts project above $1.2 billion by January 2029. At $47.50 per share, the price is roughly 60 times expected earnings over the next year. Completion is targeted for Salesforce’s fiscal 2028, beginning February 2027.
If completed, the deal could reshape the customer-engagement software market by combining Salesforce’s broad business tools with Braze’s real-time personalization. Consumers may encounter more coordinated marketing across channels, while client companies could face fewer independent vendors and greater dependence on one suite. Employees at both firms may see restructuring, and rivals such as Klaviyo could attract takeover interest. Regulators may examine data concentration and competitive effects before approval.