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Klaviyo shares surge following Salesforce's announcement to acquire Braze

The Motley Fool +1 ·

KVYO
KVYO Klaviyo Inc
$19.61 +11.93%
View chart & analysis →
BRZE BRZE +51.70%
  1. 1Salesforce has agreed to acquire Braze in an all-cash transaction at an acquisition price of $47.50 per Braze share.
  2. 2Klaviyo shares rose 11.8% in early trading following the announcement of the $5.66 billion acquisition of Braze.
  3. 3Klaviyo shares were up 11.6% as of 1:13 p.m. ET.

So what's the key point?

Salesforce decided to buy Braze for $47.50 per share. Following this news, the stock price of Klaviyo, which operates in a similar field, rose by 11.8%.

Source The Motley Fool +1 · View original ↗

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