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00:02Salesforce announced Tuesday that it will acquire customer engagement platform Braze
00:07in a deal valued at approximately $5.66 billion, according to CNBC.
00:12Under the agreement, Braze shareholders will receive $47.50 in cash per share,
00:18compared with Monday's closing price of $30.04.
00:21Braze shares surged more than 51% Tuesday to close at $45.57.
00:26The company develops artificial intelligence marketing tools to manage customer data and messaging.
00:31The acquisition is expected to close in fiscal 2028, pending regulatory and shareholder approvals.
00:38Braze CEO Bill Magnuson said Salesforce's platform will help the company innovate faster
00:43and strengthen relationships between marketers and their customers.
00:47The deal follows Salesforce's agreement to acquire AI customer service platform FIN for approximately $3.6 billion.
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