Salesforce will buy Slack in a deal valued at some $24 billion in a deal expected to be announced Tuesday after the markets close, according to media reports.

“The deal is expected to be about half cash and half stock, the sources said, and will price Slack at a premium. Salesforce is set to report quarterly earnings on Tuesday. Slack’s market cap was more than $24 billion as of Monday morning,” CNBC reported Monday afternoon.

The Wall Street Journal also reported the deal.

At $24 billion, the deal would be one of the largest software acquisitions on record, SmartBrief noted.

In 2019, IBM acquired Raleigh-based Red Ha for $32 billion.