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Salesforce.com In Advanced Talks To Buy Slack Technologies : Report

Salesforce.com Inc. (CRM) is in advanced talks to buy Slack Technologies Inc. (WORK), the Wall Street Journal reported citing people familiar with the matter. Slack has a market valuation of about $23 billion.

The companies could announce a deal as soon as next week. A deal hasn't been finalized and could still fall apart, the report said.

WORK closed Wednesday regular trading at $40.70, up $11.12 or 37.59 percent.

Reports said in August that Salesforce.com would cut about 1,000 jobs or about 2% of its workforce to streamline its business. Sales and customer-support roles were among those being eliminated.

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