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Slack's Stock Trades Higher On Report IBM Moves Employees To Platform

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Slack's Stock Trades Higher On Report IBM Moves Employees To Platform

Slack Technologies Inc (NYSE: WORK) shares are trading sharply higher after IBM (NYSE: IBM) reportedly moved all of its employees to the company's chat platform, according to Business Insider.

IBM is now deploying workplace app Slack to all of its 350,000 employees. Konrad Lagard, the IBM manager in charge of the transition, told Business Insider "employees liked using it of their own free will even before the IT department got involved."

Slack is the provider of a cloud-based workplace messaging app, launched its product in 2013. Business Insider said this now makes IBM Slack's largest single customer.

Slack's stock was trading higher by 18% to $27.21 per share at time of publication.

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