Allens acted for leading customer relationship management solutions provider, salesforce.com, inc (Salesforce), in obtaining ACCC clearance of its US$27.7 billion acquisition of collaboration solution provider, Slack Technologies, Inc (Slack). The acquisition completed on 21 July 2021.
‘We are pleased to have acted for Salesforce in such a significant acquisition. Combining Salesforce and Slack’s complementary solutions is expected to enhance the way organisations and people work and communicate in this digital and work-from-anywhere world,’ said lead competition Partner and head of the Allens Competition, Consumer and Regulatory group Jacqueline Downes.
‘The ACCC’s public review of this acquisition demonstrates its increasing interest in closely reviewing matters involving digital services. We expect this trend will continue, consistent with the global regulatory focus on digital platforms and services.’
The deal was also reviewed by competition authorities including in Japan (Japan Fair Trade Commission) and the USA (Department of Justice). The authorities engaged with each other in conducting their reviews.