New Delhi, Oct. 20 -- Shares of Braze surged in Tuesday's trade on October 20, rallying 52% to a 22-month high of $45.59 apiece on the Nasdaq after Salesforce (CRM) agreed to acquire the customer-engagement software company, handing existing investors a major windfall.

For Braze, the strategic attraction extends beyond the purchase price. Joining Salesforce Inc. could give the technology much broader distribution and greater resources for product development.

Following the meteoric rally, Braze stock is trading at roughly three times its late-February price.

Salesforce said on Tuesday that it would acquire Braze in a deal valued at about $5.66 billion, valuing Braze shares at $47.50 apiece and representing a 58.1% premium over the stoc...