Title: Salesforce Acquires Own Company for $1.9 Billion in Cash, Expanding Data Management Solutions

In a major move to bolster its data management and protection offerings, Salesforce has acquired Own Company for a hefty sum of $1.9 billion in cash. This acquisition marks Salesforce's largest deal since its acquisition of Slack in 2021, underlining the company's commitment to providing secure and comprehensive solutions for its customers' data.

Own Company, previously known as OwnBackup before its rebranding last year, is a New Jersey-based provider of data management and protection solutions. Founded in 2015 by Ariel Berkman, Daniel Gershuni, and Eran Cohen, Own has gained significant traction in the market with its enterprise-focused data backup tools and services, including automated backup and disaster recovery.

With close to 7,000 customers and a portfolio of data archiving, seeding, security, and analytics capabilities, Own has become a prominent player in the data backup and recovery sector. Its expertise extends beyond Salesforce apps to include SaaS apps hosted on AWS and Microsoft platforms, enabling businesses to protect and recover their valuable data from various sources.

The decision to acquire Own Company aligns with Salesforce's strategy to provide robust data protection and management solutions to its customer base. Salesforce GM Steve Fisher emphasized the critical importance of data security in today's landscape and expressed confidence that Own's proven expertise and products will enhance their ability to meet these demands.

Salesforce's move comes at a time when the global data backup and recovery sector is experiencing significant growth. With increasing threats related to ransomware, data center disasters, and new data management regulations, the market is projected to be worth $12.9 billion in 2023. The acquisition of Own positions Salesforce to capitalize on this lucrative market segment, reinforcing its commitment to data resilience and security.

The transaction is expected to close in the fourth quarter of Salesforce's fiscal year 2025, subject to regulatory approvals and customary closing conditions. This acquisition signifies a potential shift for Salesforce, as it marks a return to larger acquisitions despite previously announcing a shift away from M&A activities. In recent weeks, Salesforce has also closed smaller acquisition deals, demonstrating its focus on driving innovation and expanding its product offerings.

The CEO of Own, Sam Gutmann, expressed enthusiasm about joining forces with Salesforce and the shared commitment to data resilience and security. He believes that the collaboration will deliver even greater value to customers by enabling innovation, securing data, and ensuring compliance in highly regulated industries.

With the acquisition of Own Company, Salesforce is set to strengthen its position as a leading provider of secure and comprehensive data management solutions. As businesses increasingly prioritize data protection and compliance, Salesforce's expanded capabilities will further solidify its reputation as a trusted partner in the world's most complex industries.