Salesforce has announced a significant acquisition, purchasing data management firm Own for $1.9 billion in cash. This acquisition represents Salesforce’s largest deal since its $27.7 billion purchase of Slack in 2021. Own, originally known as OwnBackup, is based in New Jersey and specializes in data backup and disaster recovery solutions. Founded in 2015, Own has developed a range of enterprise-focused tools that help businesses manage and secure their data, particularly within the Salesforce ecosystem, but also extending to applications hosted on AWS and Microsoft platforms.
Steve Fisher, Salesforce’s General Manager, emphasized that the acquisition highlights Salesforce’s commitment to enhancing its data protection and management capabilities. “Data security has never been more critical,” Fisher stated in a press release. He added that Own’s expertise and products will significantly bolster Salesforce’s ability to offer robust data protection solutions, aligning with the company’s strategy to provide secure, end-to-end solutions for its customers.
Own has built a solid reputation in the data management industry, raising $507.3 million from prominent investors such as Tiger Global, BlackRock, and Salesforce Ventures. With nearly 7,000 customers and a portfolio that includes data archiving, security, and analytics capabilities, Own has established itself as a key player in the data backup and recovery market, which was valued at $12.9 billion in 2023. The company’s solutions are critical for businesses facing increasing threats from ransomware and other data security issues.
The transaction, expected to close in the fourth quarter of Salesforce’s fiscal year 2025, is subject to regulatory approvals and customary closing conditions. This acquisition signals Salesforce’s renewed focus on large-scale investments after a period of stepping back from major M&A activities under pressure from activist investors. By integrating Own’s capabilities, Salesforce aims to enhance its data management offerings and drive further innovation in data security and compliance.
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