Inc., a cloud-based software company in advanced talks to buy communications platform Slack Technologies Inc., according to reports.

The news was first reported by the Wall Street Journal , citing people familiar with the matter.

The companies are in advanced talks while the deal could be announced as early as next week, CNBC reported.

Salesforce is one of the top companies in the Customer Relationship Management (CRM) software segment. The company was started 21 years ago. The co-founder Marc Benioff is currently the CEO of the company.

The company has been on an acquisition spree in the past couple of years. In 2018, it acquired MuleSoft for $6.5 billion. It also acquired Tableau Software in 2019 for $15.3 billion.

San Francisco-based Slack is one of the leading software platform used by businesses for internal communications.

Slack was first launched in 2009 as a gaming company named Tiny Speck. It soon pivoted to a messaging platform for internal use. The platform has grown its userbase over the recent years. In 2019, Slack had said that over 12 million people were actively using the platform each day.

The acquisition could add to Salesforce’s current enterprise offerings.

Shares of Slack closed at a nearly 38 per cent higher value on Wednesday after WSJ reported on the possible acquisition.