{
  "title": "Salesforce to Acquire Braze for $5.66 Billion: Real-Time Engagement Comes to Marketing Cloud",
  "publisher": "Acquiry Deal Intelligence",
  "author": "Joash Boyton",
  "url": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/",
  "published": "2026-10-20T18:00:00Z",
  "updated": "2026-10-20T18:00:00Z",
  "licence": "Free to reference with attribution to Acquiry Deal Intelligence and a link to the source URL.",
  "rows": [
    {
      "dataset": "key-figures",
      "id": "stat-ev",
      "label": "Enterprise value of the transaction",
      "value": "≈$5.66bn",
      "provenance": "disclosed",
      "note": "From the Salesforce announcement of 20 October 2026.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/#stat-ev"
    },
    {
      "dataset": "key-figures",
      "id": "stat-price",
      "label": "Cash paid per Braze Class A share",
      "value": "$47.50",
      "provenance": "disclosed",
      "note": "Set out in the merger agreement summarised in Braze's Form 8-K.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/#stat-price"
    },
    {
      "dataset": "key-figures",
      "id": "stat-revenue",
      "label": "Braze revenue, quarter ended 31 July 2026",
      "value": "$227.2M",
      "provenance": "disclosed",
      "note": "Up 26.2% from $180.1 million a year earlier.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/#stat-revenue"
    },
    {
      "dataset": "key-figures",
      "id": "stat-rpo",
      "label": "Braze remaining performance obligations",
      "value": "$1,092.5M",
      "provenance": "disclosed",
      "note": "As of 31 July 2026, of which $691.1 million is current.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/#stat-rpo"
    },
    {
      "dataset": "key-figures",
      "id": "stat-multiple",
      "label": "Enterprise value to fiscal 2027 revenue guidance",
      "value": "≈6.2x",
      "provenance": "calculated",
      "note": "The $5.66 billion enterprise value divided by the midpoint of guidance of $910.0 million to $913.0 million.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/#stat-multiple"
    },
    {
      "dataset": "key-figures",
      "id": "stat-large",
      "label": "Growth in Braze customers above $500,000 ARR",
      "value": "+28.0%",
      "provenance": "calculated",
      "note": "361 customers at 31 July 2026 against 282 a year earlier.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/#stat-large"
    },
    {
      "dataset": "key-facts",
      "id": "fact-1",
      "label": "Status",
      "value": "Definitive agreement, 20 October 2026",
      "provenance": "disclosed",
      "note": "Merger agreement dated 19 October 2026, unanimously approved by the Braze board.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/"
    },
    {
      "dataset": "key-facts",
      "id": "fact-2",
      "label": "Consideration",
      "value": "$47.50 per share in cash",
      "provenance": "disclosed",
      "note": "For each share of Braze Class A common stock, without interest.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/"
    },
    {
      "dataset": "key-facts",
      "id": "fact-3",
      "label": "Enterprise value",
      "value": "≈$5.66 billion",
      "provenance": "disclosed",
      "note": "As stated in the Salesforce announcement.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/"
    },
    {
      "dataset": "key-facts",
      "id": "fact-4",
      "label": "Implied multiple",
      "value": "≈6.2x revenue outlook",
      "provenance": "calculated",
      "note": "Enterprise value divided by the midpoint of Braze's fiscal 2027 revenue guidance of $910.0 million to $913.0 million.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/"
    },
    {
      "dataset": "key-facts",
      "id": "fact-5",
      "label": "Termination fees",
      "value": "$300,000,000 / $191,390,000",
      "provenance": "disclosed",
      "note": "Payable by Salesforce and by Braze respectively, in specified circumstances.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/"
    },
    {
      "dataset": "key-facts",
      "id": "fact-6",
      "label": "Expected close",
      "value": "Salesforce fiscal 2028",
      "provenance": "disclosed",
      "note": "No change to Salesforce's FY27 guidance.",
      "sources": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/ | https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx | https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "permalink": "https://www.acquiry.com/deal-intelligence/salesforce-to-acquire-braze-for-5-66-billion/"
    }
  ],
  "sources": [
    {
      "id": "s1",
      "title": "Salesforce Signs Definitive Agreement to Acquire Braze",
      "href": "https://www.salesforce.com/news/press-releases/2026/10/20/salesforce-signs-definitive-agreement-to-acquire-braze/",
      "publisher": "Salesforce, Inc.",
      "date": "20 October 2026",
      "isoDate": "2026-10-20",
      "kind": "Press release"
    },
    {
      "id": "s2",
      "title": "Salesforce Signs Definitive Agreement to Acquire Braze (Braze investor relations)",
      "href": "https://investors.braze.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Braze/default.aspx",
      "publisher": "Braze, Inc.",
      "date": "20 October 2026",
      "isoDate": "2026-10-20",
      "kind": "Press release"
    },
    {
      "id": "s3",
      "title": "Braze Reports Strong Fiscal Second Quarter 2027 Results",
      "href": "https://investors.braze.com/news/news-details/2026/Braze-Reports-Strong-Fiscal-Second-Quarter-2027-Results/default.aspx",
      "publisher": "Braze, Inc.",
      "date": "8 September 2026",
      "isoDate": "2026-09-08",
      "kind": "Results release"
    },
    {
      "id": "s4",
      "title": "Braze Signs Strategic Collaboration Agreement with AWS to Advance AI-Powered Customer Engagement",
      "href": "https://investors.braze.com/news/news-details/2026/Braze-Signs-Strategic-Collaboration-Agreement-with-AWS-to-Advance-AI-Powered-Customer-Engagement/default.aspx",
      "publisher": "Braze, Inc.",
      "date": "29 September 2026",
      "isoDate": "2026-09-29",
      "kind": "Press release"
    },
    {
      "id": "s5",
      "title": "Braze Named a Leader in 2026 Gartner Magic Quadrant for Multichannel Marketing Hubs for Fourth Consecutive Year",
      "href": "https://investors.braze.com/news/news-details/2026/Braze-Named-a-Leader-in-2026-Gartner-Magic-Quadrant-for-Multichannel-Marketing-Hubs-for-Fourth-Consecutive-Year/default.aspx",
      "publisher": "Braze, Inc.",
      "date": "24 September 2026",
      "isoDate": "2026-09-24",
      "kind": "Press release"
    },
    {
      "id": "s6",
      "title": "Braze Accelerates AI Innovation, Empowering Marketers to Treat Every Customer Like Their Only Customer",
      "href": "https://investors.braze.com/news/news-details/2026/Braze-Accelerates-AI-Innovation-Empowering-Marketers-to-Treat-Every-Customer-Like-Their-Only-Customer/default.aspx",
      "publisher": "Braze, Inc.",
      "date": "29 September 2026",
      "isoDate": "2026-09-29",
      "kind": "Press release"
    },
    {
      "id": "s7",
      "title": "Braze, Inc. Form 8-K: Agreement and Plan of Merger with Salesforce, Inc.",
      "href": "https://www.sec.gov/Archives/edgar/data/1676238/000095010326015850/dp254600_8k.htm",
      "publisher": "Braze, Inc. (SEC filing)",
      "date": "20 October 2026",
      "isoDate": "2026-10-20",
      "kind": "Regulatory filing"
    }
  ]
}