Salesforce to acquire Braze

Salesforce said on Tuesday it would acquire customer engagement platform Braze for about $5.66 billion.

The customer relationship management platform’s shares fell 2.6% in premarket trading.

Braze Class A shareholders will receive $47.50 in cash per share, under the terms of the agreement.

The deal is expected to close in Salesforce’s fiscal year 2028, subject to approval by Braze shareholders and regulators.