Alantra advises Troops on its sale to Salesforce Inc.
Boston – Alantra, the global investment banking firm and asset management specialist, is pleased to announce that it has advised Troops, Inc., a SaaS revenue communications platform provider, on its sale to Salesforce Inc. (NYSE: CRM), a leading cloud customer engagement platform. Troops is now part of Slack, a Salesforce company. The deal closed on July 15, 2022, and terms of the deal were not disclosed.
Based in New York since 2015, Troops is a messaging-first communications platform that bridges the gap between SaaS systems of record (CRM, ERP, HCM, ITSM) and digital systems of engagement (messaging, voice, collaboration) to deliver actionable data and event-based alerts to organizations. Troops combines real-time insights with the ability to directly access real-time data from systems of record, like Salesforce, within Slack and other collaboration and system of engagement environments. The addition of Troops’ platform and team will significantly accelerate the integration of the Salesforce and Slack platforms and the development of innovative revenue operations and communication/collaboration solutions needed to power a “digital HQ.”
“When we started Troops, we wanted to reimagine how work gets done. We wanted to make work easier, more intelligent, and more collaborative,” Dan Reich, Troops CEO, said in a company statement. “This announcement marks an incredible milestone in the Troops journey, and we’d like to thank our community, our valued customers, our partners, our investors, and our team for all your support and partnership.”
“It was a pleasure to work with Dan and the entire Troops team,” said Bob Cronin, Managing Director with Alantra. “The Company succeeded in the marketplace because they were able to develop a highly innovative SaaS workflow and automation platform that delivered actionable data to revenue-focused professionals on a real-time basis.”
Dragan Manoev, Managing Director at Alantra, added: “This acquisition demonstrates how critical the Troops solution is to the Slack ecosystem. Dan and his team built a truly world class product that will continue to enhance the value and innovation Salesforce delivers to its customer base.”
Alantra acted as sole financial advisor to Troops on this transaction. The Alantra US Tech team advising Troops included Bob Cronin, Kelemen Papp, Dragan Manoev, and Joe Brosseau.