Salesforce to Acquire Braze for $47.50/Share in $5.66B Cash Deal
BRZE has more than doubled off its 52-week low of $15.26.
Summary
Braze signed a definitive agreement to be acquired by Salesforce for $47.50 per share in cash, about $5.66 billion enterprise value, with a one-year outside date and reciprocal break fees of $300 million (Salesforce) and $191.39 million (Braze).
Key Events · M&A and Partnerships · BRZE
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Salesforce to Buy Braze for $47.50 Cash
A definitive merger agreement was signed October 19, 2026; each Class A share converts into $47.50 in cash, an enterprise value of about $5.66 billion.
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Break Fees Set Both Ways
Salesforce pays Braze a $300 million regulatory termination fee if antitrust approval fails; Braze pays Salesforce $191.39 million if it accepts a superior proposal or the board changes its recommendation.
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One-Year Outside Date With Extensions
The deal must close by the first anniversary of signing, extendable twice by 90 days to obtain regulatory approvals; it is expected to close in Salesforce's fiscal 2028.
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Equity Awards Cashed Out or Converted
In-the-money options and vested RSUs are cashed out at $47.50; unvested RSUs and PSUs convert into Salesforce RSUs at an exchange ratio; the ESPP is terminated at closing.
Analysis · BRZE · Technology
Braze's run as a standalone public company is ending: Salesforce has agreed to acquire it for $47.50 per share in cash, an enterprise value of roughly $5.66 billion. Because the consideration is a fixed cash amount, the stock should trade toward $47.50, and the remaining question is deal risk rather than Braze's operating performance. Completion requires a majority of Braze shareholders plus antitrust clearance, with an outside date one year out and two automatic 90-day extensions. Should regulators block the deal, Salesforce pays Braze a $300 million reverse termination fee; if Braze walks to a better offer or its board changes its recommendation, Braze pays Salesforce $191.39 million. The board has unanimously approved the deal, and CEO Bill Magnuson, CTO Jonathan Hyman and director Neeraj Agrawal have signed voting agreements committing their shares in favor.
At the time of this filing, BRZE was trading at $45.43 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.4B. The 52-week trading range was $15.26 to $37.33. This filing was assessed with positive market sentiment and an importance score of 10 out of 10.