CRM: Salesforce Announces Agreement to Acquire Fin (Formerly Intercom) For $3.6B

Research evidence excerpt

CRM: Salesforce Announces Agreement to Acquire Fin (Formerly Intercom) For $3.6B

EQUITY RESEARCH QUICK TAKE

RBC Capital Markets, LLC

Rishi Jaluria (Analyst)

Max Persico, CFA (Senior Associate)

Matthew Hedberg (Head of Global TIMT

Research)

June 15, 2026

Salesforce, Inc.

Salesforce Announces Agreement to Acquire Fin (Formerly Intercom) For $3.6B

NYSE: CRM | USD 165.89 | Sector Perform | Price Target USD 210.00

Sentiment: Neutral

• Before the open on Monday (06/15) Salesforce announced it has signed a definitive agreement to acquire Fin (formerly known

as Intercom), an AI-powered customer agent platform for ~$3.6B, subject to customary purchase price adjustments.

○Fin's core product is its AI Agent, which resolves complex customer queries end-to-end across multiple channels including

live chat, email, WhatsApp, SMS, phone, and Slack. The agent is powered by Fin's proprietary AI model called Apex, purpose-

built for customer support and claims industry-leading resolution rates vs. frontier models.

○With this acquisition, Salesforce aims to strengthen its Agentforce platform (hit $1.2B in ARR in F1Q27; +205% YoY) by

adding Fin's fast-to-deploy, packaged AI agent capabilities to better serve SMB and mid-market customers. Fin's AI Agent,

powered by its proprietary Apex model, has demonstrated real-world traction, resolving an average of 76% of support volume

end-to-end across a global base of 30,000+ customers.

○The transaction is expected to close in F4Q27, subject to customary closing conditions and regulatory clearances.

○Based on the expected closing timing, Salesforce confirmed no change to its FY27 financial guidance (previously announced

May 27, 2026). The transaction will also not impact Salesforce's capital return program.