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Slack responds to IBM partnership report; says not updating forecast

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The Slack Technologies Inc. logo is seen at the New York Stock Exchange (NYSE) during the company’s direct listing in New York, U.S. June 20, 2019. REUTERS/Brendan McDermid

(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 a major licensing deal with International Business Machines Corp for its workplace messaging app.

Business Insider reported earlier in the day that IBM would deploy the workplace chat app to every single one of its 350,000 employees. 

Slack did not explicitly confirm or deny that it had reached a new deal but said in a regulatory filing here that IBM had been and continued to be its largest customer.

Shares of Slack, which soared 15% on the report, fell 6% in trading after the bell.

Reporting by Ayanti Bera in Bengaluru

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via Reuters