Salesforce to Buy Marketing Platform Braze for $5.7 Billion

(Bloomberg) -- Salesforce Inc. has agreed to buy Braze Inc., an artificial intelligence-powered platform for marketers, for almost $5.7 billion in enterprise value.

Salesforce will pay Braze investors $47.50 per share, it said in a statement on Tuesday. The deal is expected to close in Salesforce's fiscal 2028, which begins in early February.

Trading for Braze was halted before markets opened in New York. Salesforce's stock fell about 2.7%.

Braze serves around 2,770 customers, including Canva, Equinox, Instacart, Venmo and others, Salesforce said in the statement.