Salesforce Agrees to Buy Braze for About $5.66 Billion in Cash

Salesforce has agreed to acquire customer engagement platform Braze for approximately $5.66 billion in enterprise value, the companies announced on Tuesday, October 20, 2026. Holders of Braze Class A common stock will receive $47.50 in cash per share, according to the Salesforce announcement.

Braze, which trades on Nasdaq under BRZE, sells software that marketers use to send messages across mobile apps, websites, email, SMS and WhatsApp in response to customer behavior. Salesforce said Braze has approximately 2,770 customers, including Canva, Dairy Queen, Equinox, Instacart, Urban Outfitters and Venmo.

Braze shares closed at $30.04 on Monday and jumped more than 50% on Tuesday after a brief premarket trading halt, CNBC reported. Salesforce shares slipped roughly 1% on Tuesday morning, according to the same report. Reuters, in a story carried by CNBC, said Salesforce stock fell 2.6% in premarket trading.

Where Braze Fits at Salesforce

Salesforce said Braze’s real-time engagement and AI decisioning tools are expected to complement all four layers of its architecture, which it names as Data 360, Customer 360, Agentforce and SIForce. Inside Customer 360, the company expects Braze to strengthen Marketing Cloud’s cross-channel personalization.

“Braze was built to turn live customer behavior into personalized engagement at scale,” said Patrick Stokes, President, Applications and Marketing, Salesforce. He said bringing that together with Marketing Cloud, CRM and Data 360 “will deliver that wow moment in every customer interaction.”

Braze CEO and co-founder Bill Magnuson said the company would keep building under its own name. “Salesforce shares our commitment to marketers, and we’ll continue building as Braze and investing in the Braze community of customers and partners who built this company with us,” he said in the announcement.

Salesforce described Braze’s architecture as cloud-native and event-streaming, built for high-volume business-to-consumer engagement and powering trillions of messages and journey actions each year. Salesforce said BrazeAI adds AI-powered optimization across content, offers, channels and timing. Magnuson and fellow co-founder Jon Hyman lead the company, which is headquartered in New York and has 15 offices across the Americas, EMEA and APAC.

Deal Terms in the Filing

Braze signed the merger agreement on Monday, October 19, 2026, according to a Form 8-K filed with the Securities and Exchange Commission. Under the agreement, a Salesforce subsidiary named Banff Acquisition Sub will merge into Braze, which will survive as a wholly owned subsidiary of Salesforce. Braze’s board approved the agreement unanimously.

The deal needs the approval of holders of at least a majority of Braze’s outstanding Class A shares, along with expiration of the Hart-Scott-Rodino waiting period and other antitrust and foreign investment approvals. Certain Braze stockholders signed a voting and support agreement to back the merger, the filing said.

The filing sets termination fees in both directions. In certain cases, including a deal that misses its outside date or is blocked under regulatory law, Salesforce would pay Braze $300 million. Braze would pay Salesforce $191.39 million in other specified cases, such as its board withdrawing its recommendation or accepting a superior proposal. The outside date is the first anniversary of the agreement, with up to two 90-day extensions available to obtain regulatory approvals.

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, and Davis Polk & Wardwell is its legal counsel.

Salesforce said the deal brings no anticipated change to its fiscal 2027 guidance, and that it has not issued fiscal 2028 guidance. The companies expect the transaction to close in Salesforce’s fiscal year 2028, and the announcement said Braze intends to file a preliminary proxy statement on Schedule 14A with the SEC ahead of the shareholder vote.