Salesforce has agreed to buy Braze, a New York company that helps brands send personalised messages to their customers, for about $5.66bn including debt. The two companies announced the deal on Tuesday, adding to a run of Salesforce acquisitions this year.
Braze shareholders will receive $47.50 in cash per share. That is about 58% above Braze’s last closing price of $30.04, according to Investing.com. Salesforce shares fell about 3% after the news, the outlet reported.
Braze sells software that tracks what customers do in an app or on a website and then sends them messages, emails or offers in real time. It works with about 2,770 companies, including Canva, Instacart, Venmo and Urban Outfitters.
The company is growing quickly. Braze’s revenue rose 26% to $227.2m in the three months to July, and it expects about $910m in sales this financial year, its latest results show. At the end of July, 361 of its customers each paid it at least $500,000 a year.
Salesforce plans to combine Braze with Marketing Cloud, its existing marketing product, as well as its customer data and AI agent tools. The company has spent heavily on AI agents under its Agentforce brand, and earlier bought billing startup m3ter to charge for them by use.
“Braze was built to turn live customer behavior into personalized engagement at scale,” said Patrick Stokes, Salesforce’s president of applications and marketing.
Bill Magnuson, Braze’s chief executive and co-founder, said Salesforce’s platform would help the company build new products faster. He and co-founder Jon Hyman still lead the business.
The deal needs approval from Braze shareholders and regulators. Salesforce expects it to close in its 2028 financial year, which starts in February 2027.
Salesforce said the purchase would not change its forecast for the current financial year. It has not yet given a forecast for the following year.
J.P. Morgan is advising Salesforce on the deal, while Qatalyst Partners is advising Braze.
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