Salesforce Agrees to Acquire Braze for $5.66 Billion

Salesforce has agreed to acquire Braze for approximately $5.66 billion in enterprise value, with Braze shareholders receiving $47.50 in cash per share. The deal, unanimously approved by Braze's board, is expected to close in Salesforce's fiscal year 2028, pending shareholder and regulatory approval.

Salesforce Inc (NYSE: CRM) said on October 20, 2026, that it has agreed to acquire Braze (NASDAQ: BRZE) in a deal valued at approximately $5.66 billion in enterprise value. Enterprise value counts a company's debt and cash, not just its stock price.

Under the agreement, holders of Braze Class A common stock will receive $47.50 in cash per share. Salesforce expects to fund the deal with cash, according to its investor presentation. Braze's board of directors unanimously approved the merger agreement.

Salesforce expects Braze's real-time engagement and AI decisioning capabilities to complement its architecture across Data 360, Customer 360 and Agentforce.

Braze serves approximately 2,770 customers, including Canva, Dairy Queen, Equinox, Instacart, Urban Outfitters and Venmo.

Salesforce's transaction presentation outlines expected growth accretion balanced by near-term profitability dilution. In deal language, accretion means a measure rises after a purchase, and dilution means a measure falls.

Braze stock rose more than 51% on Tuesday, October 20, 2026, closing at $45.57. The prior close was $30.04 on Monday.

That Tuesday close still sits below the $47.50 in cash per share Salesforce agreed to pay. The cash price is about 58% above Braze's Monday close, according to Axios. The remaining gap suggests the market isn't yet treating the deal as certain.

Salesforce shares fell about 3% before the Tuesday open. By early afternoon, they had recovered to trade near flat at about $242.

Salesforce expects the deal to close in its fiscal year 2028, pending approval by Braze's shareholders and required regulatory clearances.

The merger agreement sets an outside date of October 19, 2027, which can be extended twice by 90 days each.

An outside date is a contractual deadline, not a promised closing date.