EL7.AI
Mergers & AcquisitionsMedium•20 October 2026•
4 min read

Salesforce signs deal to acquire Braze at enterprise value of about $5.66 billion

Key Facts

1Salesforce signed a definitive agreement to acquire Braze at an enterprise value of about $5.66 billion.
2The agreement specifies cash consideration of $47.50 for each Braze Class A share.
3Braze's revenue in its latest reported quarter was $227.2 million, compared with $180.1 million in the corresponding period.
4Braze's revenue grew 26.2% year on year, driven primarily by new customers, expanded sales to existing customers and contract renewals.
5Salesforce expects the deal to close during its fiscal 2028, subject to the required approvals and closing conditions.

Salesforce announced on October 20, 2026 that it had signed a definitive agreement to acquire Braze at an enterprise value of about $5.66 billion, according to the company's statement on the deal. The agreement provides for holders of Braze Class A shares to receive $47.50 in cash per share. Salesforce described the total amount as an "enterprise value of about $5.66 billion," while specifying the consideration payable to shareholders on a per-Class A-share basis. The agreement is part of the company's expansion through acquisitions of platforms operating in content, business analytics and customer research. Braze provides tools for brands to engage with their customers, including using artificial intelligence to optimize content, offers, communication channels and message timing.

Braze reported revenue of $227.2 million in its latest reported quarter, compared with $180.1 million in the corresponding period a year earlier, according to its earnings statement. Revenue grew 26.2% year on year, with the company attributing the increase primarily to new customers, expanded sales to existing customers and contract renewals. Braze said growth was "primarily driven by new customers, upsells to existing customers, and contract renewals." Its total customer base rose to 2,789 as of July 31, 2026. That compared with 2,422 customers as of July 31, 2025, according to the same statement. The expansion in its customer base preceded the announcement of the acquisition agreement, alongside revenue growth that the company attributed to activity among new and existing customers.

Describing Braze's tools, Salesforce said Braze's AI ecosystem provides "AI-powered optimization" of brands' engagement with customers. This includes optimizing the content of messages, as well as the offers brands make to their customers. These capabilities extend to the communication channels used and the timing of messages, with the aim of making customer engagement more relevant. As part of its tool development, Braze also entered into a strategic collaboration with Amazon Web Services to advance AI-powered customer engagement. Braze said the collaboration includes integrating Amazon Bedrock into its AI agent console. The move aims to expand options for building and running generative AI-powered customer engagement experiences within Braze's agent orchestration tools.

Braze previously acquired OfferFit to deepen the integration of its multi-agent decisioning engine into its customer engagement platform. The total adjusted purchase price was $303.2 million, according to Braze's quarterly filing with the U.S. Securities and Exchange Commission. That acquisition relates to decisioning capabilities within the platform, while the company's collaboration with Amazon focuses on integrating a generative AI service into agent orchestration tools. According to Braze's description of the collaboration, the service is being incorporated into the console that enables users to build and run customer engagement experiences. The background of the business targeted by the deal thus includes an acquisition to develop its decisioning engine and a technology collaboration to expand the use of generative AI in customer engagement.

Salesforce's recent acquisitions include platforms serving different functions in content management, customer understanding and business performance monitoring. The company completed its acquisition of Contentful on September 1, 2026, according to its announcement on the transaction. It said the acquisition adds an enterprise content layer connecting customer data with personalized digital experiences, as part of its expansion in customer experience tools. It also announced a definitive agreement to acquire Listen Labs, which it described as an AI-powered customer research and human simulation platform. In business analytics, the company signed a definitive agreement to acquire the AI-powered Loops platform. According to Salesforce's description, Loops continuously monitors business performance and explains why key metrics change, adding performance monitoring tools alongside content and customer research to its acquisition portfolio.

Salesforce expects to close the Braze acquisition during its fiscal 2028, according to the timing set out in the agreement announcement. Completion remains subject to approval by Braze shareholders, one of the requirements the company identified for proceeding to closing. The required regulatory approvals for the deal must also be obtained, alongside shareholder approval. The requirements also include satisfying the customary closing conditions set out in the agreement, according to Salesforce's statement. The expected completion date therefore depends on securing these approvals and satisfying these conditions within the timeframe the company announced for its fiscal 2028.