Salesforce has agreed to buy Braze, a customer engagement platform, in a deal worth about $5.66 billion, CNBC reported. Holders of Braze Class A shares will receive $47.50 in cash per share. Braze shares had closed at $30.04 on Monday, CNBC reported.

Braze stock jumped more than 51% on Tuesday to close at $45.57, according to CNBC. Trading in Braze was halted before markets opened, Bloomberg reported. Salesforce's stock fell about 2.7%, according to Bloomberg's report Tuesday morning.

Braze makes artificial intelligence marketing tools to manage customer data and messaging, CNBC reported. It serves around 2,770 customers, including Canva, Equinox, Instacart and Venmo, Bloomberg reported, citing Salesforce.

The deal is expected to close in Salesforce's fiscal 2028, which begins in early February, Bloomberg reported. It still needs approval from Braze shareholders and regulators, according to CNBC. Salesforce said the deal does not change its forecast for the current fiscal year.

"Salesforce shares our commitment to marketers, and we'll continue building as Braze and investing in the Braze community of customers and partners who built this company with us," Braze CEO Bill Magnuson said in a statement, CNBC reported. "Salesforce's platform will help us innovate faster."

Salesforce said Braze is expected to strengthen its Marketing Cloud and its AI agent tools. The deal comes months after Salesforce agreed to buy AI customer service platform Fin for about $3.6 billion, CNBC reported.

What we know: Salesforce agreed to pay $47.50 a share in cash for Braze, a deal worth about $5.66 billion.
What we don't: Whether shareholders and regulators will approve the deal.