Salesforce agrees to buy Braze for $47.50 a share in cash

Braze told the SEC on October 20 that it had signed an agreement the previous day to be acquired by Salesforce, with each Class A share converted into $47.50 in cash. Salesforce put the enterprise value at about $5.66 billion.

The Braze board voted unanimously. Certain Braze stockholders also signed a support agreement committing their shares to the merger.

The contract prices failure on both sides. Salesforce would owe Braze a $300 million termination fee in specified cases, including a deal that has not closed by the outside date, one year from signing with extensions for regulatory review, or one that is blocked under regulatory law. Braze would owe $191.4 million in other cases, among them walking away for a superior proposal.

The companies expect to close in Salesforce's fiscal 2028, subject to approval by Braze shareholders and regulators. Salesforce said its guidance for fiscal 2027 is unchanged. Braze serves about 2,770 customers, according to the joint release.

The document: Braze, Inc., Form 8-K, October 20, 2026. The release: Salesforce and Braze, exhibit 99.2.