M&A · Tech · Services-Prepackaged Software
Salesforce, Inc. to acquire Braze, Inc.
Announced Oct 20, 2026 · Announced
Deal value$5.66BEV $5.66B
Premium—To unaffected price
EV / Adj. EBITDA—6.8x EV / Revenue
ConsiderationAll cash$47.50 per share
Transaction
- Acquirer
- Salesforce, Inc. (CRM)
- Target
- Braze, Inc. (BRZE)
- Buyer type
- Strategic
- Offer price per share
- $47.50
- Enterprise value
- $5.66B
- Status
- Announced
Deal protections
- Break fee (target pays)
- $191M · 3.4%
- Reverse fee (buyer pays)
- $300M · 5.3%
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- JPMorgan
- To the target
- Qatalyst
Sector context · Tech
- Comparable deals
- 70 in the prior 24 months
- Premium
- Sector median 42.0%
- EV / Adj. EBITDA
- Sector median 15.5x
- Break fee
- 3.4% vs. 3.0% sector median
Timeline
- AnnouncedOct 20, 2026
- ClosedPending