Salesforce has completed its purchase of enterprise communications platform Slack Technologies for $27.7 billion. Slack shareholders received $26.79 and 0.0776 shares of Salesforce stock for each share of their company.

Slack Technologies' GAAP loss for the three months of fiscal year 2022 was $27.945 million, down 2.6 times from $74.427 million in the previous year. Revenue increased 35.6% to $273.357 million from $201.65 million a year earlier.

Slack Technologies' GAAP loss for fiscal year 2021 was $292.488 million, down 48.5% from $568.357 million in the prior year. Revenue increased 43.2% to $902.61 million, compared to $630.422 million a year earlier.

Salesforce acquires the Slack Technologies enterprise communications platform for $27.7 billion. Slack shareholders will receive $26.79 and 0.0776 shares of Salesforce for each Slack paper. The deal is expected to be closed in fiscal year 2Q 2022, subject to Slack shareholders' approval, necessary regulatory approvals and other customary closing conditions.