Salesforce (CRM) is making one of its biggest bets yet on the future of artificial intelligence in customer service.
The tech giant announced it has signed a definitive agreement to acquire Fin, formerly known as Intercom, for approximately $3.6 billion, subject to customary purchase price adjustments. The deal is expected to close in the fourth quarter of Salesforce's fiscal year 2027 (ending in January).
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The acquisition shows how seriously Salesforce takes its efforts to gain traction in the artificial intelligence agent market.
www.barchart.com Agentforce Is Already a Billion-Dollar Business
Salesforce’s Agentforce platform reached $1.2 billion in annual recurring revenue in the first quarter of fiscal year 2027, an increase of 205% year-over-year (YoY). Salesforce President and Chief Marketing Officer Patrick Stokes said the company is also tracking "agentic work units," or AWUs, a metric designed to measure real productive work completed by artificial intelligence agents.
Thousands of companies now offer some form of agentic platform. Salesforce needs to demonstrate to enterprises that it can deliver fast, measurable results, especially in customer service, which remains the largest use case for AI agents today.
That is precisely what Fin brings to the table.
Fin's core product is an artificial intelligence agent built specifically for customer support. It handles complex queries end-to-end, across live chat, email, WhatsApp, SMS, phone, and Slack. Fin's AI agent resolves an average of 76% of support volume without any human involvement. Powering the product is a proprietary model called Apex, which Fin says is purpose-built for customer support. Independent benchmarks cited by VentureBeat show Apex outperforming top frontier models, including GPT and Claude Sonnet, on resolution rates.Fin also comes with more than 30,000 existing customers. That is a ready-made base that Salesforce can use to move toward higher-tier Agentforce products, a pattern the company has used effectively before.
Salesforce's Chief Revenue Officer Miguel Milano noted at a June conference that customers who begin their agentic journey with Salesforce typically increase their spending with the company by three to four times over the next few years
"We're thrilled to welcome Fin to Salesforce as we enable every company to become an agentic enterprise," said Salesforce Chair and CEO Marc Benioff, according to a company statement.
"Fin brings proven agent technology, a deep commitment to customer success, and an incredible AI team that will complement Agentforce with powerful service agent capabilities."
Salesforce Aims to Widen AI Moat
Salesforce has spent the past year expanding how its platform is accessed.
In March, the company unveiled its Headless 360 strategy, which opens Salesforce's underlying data and workflows to external artificial intelligence agents and coding tools through Model Context Protocol, or MCP, servers. The idea is that customers should be able to use Salesforce regardless of which AI interface they prefer, whether that is Claude, Codex, or Slackbot.
Fin's technology can now potentially plug into the full Salesforce ecosystem, including Sales Cloud, Service Cloud, and Slack, from day one. Salesforce co-founder and CTO Parker Harris said at a June conference that enterprise adoption of AI agents is "still super early," with customer service remaining the hottest area.
Fin's track record gives Salesforce something most of its rivals cannot offer right now: an agent that already works at scale, in production, for tens of thousands of real businesses. Fin co-founder and CEO Eoghan McCabe put it plainly in a company statement. "By joining forces with Salesforce, we can deploy it far and wide at a rate far faster than we could have ever achieved on our own."
The deal does not change Salesforce's fiscal year 2027 financial guidance, the company said. But if Fin's customer base and technology help accelerate Agentforce adoption in the back half of the year, the numbers could surprise to the upside.
Is CRM Stock Undervalued?
Valued at a market cap of $135 billion, CRM stock is down 57% from all-time highs. Analysts tracking the beaten-down tech stock forecast revenue to increase from $41.53 billion in fiscal 2026 to $68.24 billion in fiscal 2031.
In this period, adjusted earnings per share are projected to expand from $12.52 to $22.95. If CRM is priced at 15x, which is above the current multiple of 12x but significantly below the 10-year average of 47.5x, it could more than double over the next four years.
Out of the 50 analysts covering CRM stock, 34 recommend “Strong Buy,” two recommend “Moderate Buy,” 12 recommend “Hold,” one recommends “Moderate Sell,” and one recommends “Strong Sell.”
The average CRM price target is $259.06, above the current price of about $161.
www.barchart.com On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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