"Salesforce Acquires Own Company for $1.9 Billion in Cash - A Game-Changing Move in Data Security Solutions"
In a groundbreaking move, Salesforce has acquired Own Company, a leading provider of data management and protection solutions, for a staggering $1.9 billion in cash. This acquisition highlights Salesforce's unwavering commitment to offering secure end-to-end solutions for safeguarding customers' most valuable data.
Own, based in Englewood, New Jersey, was founded in 2015 as OwnBackup and has since become a trusted name in the industry, offering a wide range of data backup tools and services such as automated data backup and recovery. With investments totaling $507.3 million from top investors like Tiger Global, BlackRock, and Salesforce Ventures, Own has positioned itself as a key player in the data security market.
This acquisition marks Salesforce's largest deal since acquiring Slack in 2021, signaling the company's strategic focus on enhancing its data resilience and security capabilities. Own CEO Sam Gutmann expressed excitement about the partnership with Salesforce, emphasizing the shared mission of protecting data, unlocking business insights, and driving innovation in the rapidly evolving digital landscape.
The acquisition is expected to close in the fourth quarter of Salesforce's fiscal year 2025, pending regulatory approvals and standard closing conditions. This move is set to revolutionize the data security landscape and create new opportunities for businesses to enhance their data protection strategies, unlock valuable insights, and drive innovation in highly regulated industries.
In conclusion, Salesforce's acquisition of Own Company is a game-changer in the world of data security solutions, offering businesses unparalleled opportunities to safeguard their data, drive innovation, and stay ahead in an increasingly digital world. This strategic move underscores the importance of data protection in today's business landscape and sets the stage for transformative growth and success in the years to come.