Salesforce acquires Own Company for $1.9 billion

Salesforce has acquired New Jersey-based data management and protection solutions provider Own Company for $1.9 billion in cash, marking its largest deal since purchasing Slack in 2021 for $27.7 billion.

The acquisition highlights Salesforce’s intensified focus on enhancing data security and management capabilities. Salesforce General Manager Steve Fisher emphasized that the deal underscores the company’s commitment to providing secure, end-to-end solutions for protecting valuable customer data.

Founded in 2015 as OwnBackup, the company originally specialized in enterprise-focused data backup tools, including automated backup and disaster recovery. Own has since expanded its offerings to include support for SaaS applications beyond Salesforce, such as those hosted on AWS and Microsoft.

The company had raised $507.3 million from investors like Tiger Global, BlackRock, and Salesforce Ventures, reaching a valuation of $3.35 billion by August 2021.

Own CEO Sam Gutmann expressed enthusiasm about the acquisition, noting that joining forces with Salesforce will enable them to deliver even greater value to customers by driving innovation and securing data in highly regulated industries. Salesforce expects the acquisition to close in Q4 of its fiscal year 2025, pending regulatory approvals.

This acquisition could signal Salesforce’s return to major deals after a year of scaling back M&A activities due to investor pressure. Salesforce recently closed smaller acquisitions, including PredictSpring and Tenyx, furthering its strategy to enhance its product offerings.