Salesforce agrees to buy Braze for $5.66B, or $47.50 a share in cash, to add AI marketing

What Salesforce announced

Salesforce said on 20 October 2026 that it had entered into a definitive agreement to acquire Braze for approximately $5.66 billion in enterprise value. Holders of Braze Class A common stock will receive $47.50 in cash per share. The transaction is expected to close in Salesforce's fiscal year 2028, subject to approval by Braze's shareholders and required regulatory approvals.

Salesforce said there is no change to its fiscal 2027 guidance. It has not guided fiscal 2028, and it is not updating its long-term targets. J.P. Morgan Securities is Salesforce's exclusive financial advisor, with Wachtell, Lipton, Rosen & Katz and Covington & Burling as legal counsel. Qatalyst Partners is advising Braze, with Davis Polk & Wardwell as counsel.

What Braze brings

Braze runs a cloud-native, event-streaming platform that updates customer profiles and adapts messaging journeys in real time across mobile apps, websites, email, SMS and WhatsApp. Salesforce says it powers trillions of messages and journey actions each year. Its AI layer, BrazeAI, optimizes content, offers, channels and timing. Braze serves approximately 2,770 customers, including Canva, Dairy Queen, Equinox, Instacart, Urban Outfitters and Venmo.

Salesforce expects Braze to complement all four layers of its architecture: Data 360, Customer 360, Agentforce and SIForce. Within Customer 360, Braze is meant to strengthen Marketing Cloud's cross-channel personalization for high-volume consumer brands. "Braze was built to turn live customer behavior into personalized engagement at scale," said Patrick Stokes, President, Applications and Marketing at Salesforce. Braze CEO and co-founder Bill Magnuson said the company will continue building as Braze.

Why it matters

Salesforce frames the deal as part of a push into agentic marketing, where software decides and acts on customer behavior in real time. It is much larger than the Loops acquisition Salesforce announced on 12 October 2026, an AI analytics startup headed for Tableau whose price was not disclosed. Braze arrives with its own AI layer, a customer base of about 2,770 brands and deep mobile and in-app messaging, which Salesforce says it would add to Marketing Cloud. The deal follows SAP agreeing to buy TechWolf, another case of an enterprise software vendor buying an AI data or decision layer rather than building it.

What to watch next

Braze intends to file a preliminary proxy statement on Schedule 14A with the SEC, followed by a definitive proxy that sets up the shareholder vote. The release gives no date for it or for the regulatory filings. The risk factors in the release note restrictions on Braze while the deal is pending and a termination fee that either side may owe in some circumstances. More AI acquisitions are tracked under AI Business & Funding.

Questions people ask

How much is Salesforce paying for Braze?

About $5.66 billion in enterprise value. Braze Class A shareholders will receive $47.50 in cash per share.

When will the Salesforce and Braze deal close?

Salesforce expects it to close in its fiscal year 2028, subject to Braze shareholder approval and regulatory approvals.

Will Braze keep its brand?

Braze CEO Bill Magnuson said the company will continue building as Braze. The release does not give further integration details.

Sources

1. Salesforce Signs Definitive Agreement to Acquire Braze (Salesforce, 20 Oct 2026)
2. Salesforce Signs Definitive Agreement to Acquire Loops (Salesforce, 12 Oct 2026)