Salesforce has acquired Own Company, a provider of data management and protection solutions, for $1.9 billion in cash.
In a press release, Salesforce GM Steve Fisher said in a statement that Own “underscores [Salesforce’s] commitment to providing secure, end-to-end solutions that protect our customers’ most valuable data.”
“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,” he continued.
Englewood, New Jersey-based Own, founded in 2015 as OwnBackup, provides a range of data backup tools for organizations as well as services like automated data backup and recovery. Founded by Ariel Berkman, Daniel Gershuni and Eran Cohen, Own managed to raise $507.3 million from investors including Tiger Global, BlackRock, Insight Partners, Vertex Ventures and Salesforce’s own Salesforce Ventures prior to today’s acquisition (per Crunchbase).
Own is Salesforce’s biggest deal since buying Slack in 2021.
“We’re excited to join forces with Salesforce, a company that shares our commitment to data resilience and security,” Own CEO Sam Gutmann said in a press release. “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’ll 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.”
Salesforce expects the transaction to close in Q4 of its fiscal year 2025, subject to regulatory approvals and customary closing conditions.
