Sat. Jul 31st, 2021


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Slack responds to IBM partnership report; says not updating forecast

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Slack Technologies Inc. logo is seen at the New York Stock Exchange (NYSE) during the company's direct listing in New York

(Reuters) – Slack Technologies Inc said it was not updating its forecasts for the fourth quarter and fiscal year ending in January, responding to a report of an expanded partnership with International Business Machines Corp for its workplace messaging app.

Business Insider reported earlier in the day that IBM would deploy the app to every single one of its 350,000 employees, making it the largest single customer for Slack, which has had a partnership with IBM since at least 2016.

“IBM has been Slack’s largest customer for several years and has expanded its usage of Slack over that time,” the company said in a regulatory filing, undercutting the idea that it had reached a major deal with IBM.

Shares of Slack, which soared 15% on the report, fell by over 7% in trading after the bell.

(Reporting by Ayanti Bera in Bengaluru; Editing by Vinay Dwivedi)