Salesforce Makes $1.9 Billion Acquisition of Own Company for Data Management Solutions

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Salesforce acquires Own Company, a New Jersey-based data management and protection solutions provider, for $1.9 billion in cash, highlighting the company's commitment to offering secure, comprehensive solutions. The acquisition complements Salesforce's existing data management tools and may signify a renewed focus on major acquisitions.

Salesforce announced its agreement to acquire Own Company, a leading provider of data protection and management solutions, for approximately $1.9 billion. The acquisition aligns with Salesforce's strategic focus on enhancing its AI-driven data security and management solutions. Own, a long-time Salesforce AppExchange partner, brings expertise in safeguarding mission-critical SaaS data, data archiving, and compliance capabilities.

By integrating Own’s solutions, Salesforce aims to address growing customer concerns about data security, particularly in light of AI advancements. The deal is expected to close in Salesforce's fiscal year 2025, subject to regulatory approvals.

Own, which was founded in 2015 as OwnBackup and rebranded last October, offers enterprise-focused data backup tools and services, including automated backup and disaster recovery. Prior to the acquisition, Own had raised $507.3 million from investors such as Tiger Global, BlackRock, Insight Partners, Vertex Ventures, and Salesforce Ventures.