In a major deal that underscores its commitment to security and compliance, Salesforce has acquired Own Company, a leading provider of data management and backup solutions. The $1.9 billion all-cash agreement sees Salesforce boost its capabilities around safeguarding customer information at a critical time when businesses face growing threats.
Own Company, founded in 2015 and based in New Jersey, has developed an extensive portfolio of tools that help enterprises archive, protect and analyze their valuable data across multiple software platforms. Its tools play a key role in automatically backing up information and enabling rapid disaster recovery.
The deal is Salesforce's largest since purchasing collaboration platform Slack for $27.7 billion in 2021. It comes after the software giant reportedly considered but passed on acquiring data management firm Informatica earlier this year.
Salesforce EVP Steve Fisher noted the Own Company deal “underscores our dedication to delivering fully-integrated, end-to-end solutions that safeguard customer data.” He said the New Jersey firm's “proven expertise and products will enhance our ability to offer robust data protection and compliance tools.”
Own CEO Sam Gutmann expects the company to complement Salesforce's existing offerings. By joining forces, they can provide a “more comprehensive set of data loss prevention and security capabilities,” he said. The combined portfolio should drive greater innovation in these vital areas.
The acquisition is set to close in the final quarter of Salesforce's fiscal 2025, pending approvals. It allows the CRM leader to strengthen its position supplying the tools enterprises need to properly handle information in an era of heightened risk and stricter regulations worldwide.
