Salesforce agrees to buy Braze for $5.66 billion

On 20 October Salesforce signed a definitive agreement to acquire New York-based Braze at an enterprise value of about $5.66 billion. Braze Class A holders receive $47.50 per share in cash. Closing is expected in Salesforce's fiscal 2028, which begins in February 2027, subject to Braze shareholder and regulatory approval. Salesforce says its fiscal 2027 guidance is unchanged.

Braze coordinates real-time messaging across mobile, web, email, SMS and WhatsApp, and its BrazeAI feature optimises content, offers, channels and timing per customer. It has about 2,770 customers including Canva, Dairy Queen, Equinox, Instacart, Urban Outfitters and Venmo. It bought OfferFit for $325 million in 2025.

Salesforce says Braze will complement all four layers of its architecture: Data 360, Customer 360, Agentforce and SIForce, strengthening Marketing Cloud in mobile and real-time messaging. CEO Bill Magnuson said Braze will keep building as Braze. Neither company has said how Braze will sit alongside Marketing Cloud's journey products.

Little changes for customers in the short term, but renewals matter. One industry analysis shows that for a retailer paying $900,000 a year, a three-year deal capped at 5% versus a hypothetical 20% rise after year one differs by about $223,000 before migration costs.

Marketing software is consolidating and AI agents are the rationale: agents need both customer data and channels to reach customers. Braze supplies the channels.

The deal needs a Braze shareholder vote and competition approval, with closing expected in 2027; Braze operates independently until then. In Salesforce's past large acquisitions such as Slack, Tableau and MuleSoft, acquired brands were kept as separate products for a long time, while pricing and packaging were gradually tied to Salesforce licensing. Braze customers may see a similar path, which is why renewal timing and contract terms deserve attention now rather than after the close.

• Add a price cap to multi-year martech contracts.
• Keep your data portable; export segments and campaign history regularly.
• Measure which channels actually drive sales before switching platforms.