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This is the largest deal for Salesforce since buying Slack and it will use Own Company to boost its data security offering.
Customer relationship management (CRM) giant Salesforce has signed a definitive agreement to acquire Own Company, a data protection and data management software provider.
Salesforce will acquire the company for $1.9bn in cash, less the value of approximately 10pc of shares that Salesforce currently owns.
This is Salesforce’s largest acquisition deal since buying Slack in 2020 for more than $27bn.
Own Company, formerly known as OwnBackup was founded in 2015. Its platform is designed to protect SaaS data and it offers automated backups and rapid recovery to help prevent the loss of important data. The company also helps organisations leverage their historical data to optimise decision-making and gain a competitive advantage.
Salesforce’s’ Steve Fisher said data security has never been more critical. “Own’s proven expertise and products will enhance our ability to offer robust data protection and management solutions to our customers,” he said.
“This proposed transaction underscores our commitment to providing secure, end-to-end solutions that protect our customers’ most valuable data and navigate the shifting landscape of data security and compliance.”
Own Company’s CEO Sam Gutmann said Salesforce shares its commitment to data resilience and security. “As digital transformation accelerates, our mission has expanded from preventing data loss in the cloud to helping customers protect their data, unlock business insights and accelerate AI-driven innovation,” he said.
Earlier this year, SiliconRepublic.com’s CEO Ann O’Dea spoke to Salesforce Ireland’s CEO Carolan Lennon for The Leaders’ Room about the importance of data security, especially with the growth of AI.
“When we talk to customers about it, they are worried about the security of their data, the privacy of their data,” she said.
“We’ve been thinking about trust at the start of this journey, and we’ve been doing it for quite a long time, so I think that is hugely important.”
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