Cloud-based software company Salesforce has announced a definitive agreement to acquire Own Company, a provider of data protection and data management solutions, for approximately $1.9bn in cash.
Own Company, a Salesforce AppExchange partner since 2012 and a Salesforce Ventures portfolio company, caters to nearly 7,000 customers to protect mission-critical data.
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The Own data platform offers archiving, seeding, security, and analytics, aiding organisations in maintaining data availability, compliance, and security.
The acquisition aligns with the increasing market focus on data loss mitigation due to various threats.
Salesforce’s investment in cloud-native data protection solutions aims to bolster its platform data security, privacy, and compliance products, accelerating growth in these areas.
The integration of Own’s capabilities with Salesforce’s existing products, including Salesforce Backup, Shield, and Data Mask, is expected to provide a comprehensive suite of data protection and loss prevention solutions.
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By GlobalDataThese are crucial for safeguarding customer data and extracting value from historical data using artificial intelligence for trend analysis and growth forecasting.
Salesforce president and GM of Einstein 1 platform and unified data services Steve Fisher said: “Data security has never been more critical, and Own’s proven expertise and products will enhance our ability to offer robust data protection and management solutions to our customers.
“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 CEO Sam Gutmann said: “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.
“Together with Salesforce, we will deliver even greater value for our customers by driving innovation, securing data, and ensuring compliance in the world’s most complex and highly regulated industries.”
Subject to regulatory approvals and customary closing conditions, the transaction is anticipated to conclude in the fourth quarter of Salesforce’s fiscal year 2025
This acquisition follows Salesforce’s recent agreement to purchase Tenyx, which specialises in AI-powered voice agents, to enhance customer service experiences across various industries.
