Salesforce to Acquire Data Protection Provider, Own Company, Strengthening Data Security

San Francisco-based customer relationship management giant, Salesforce, has announced its plans to acquire Own Company, a leading provider of data protection and data management solutions. The $1.9 billion cash deal, subject to customary purchase price adjustments, will enhance Salesforce's platform with industry-leading data security and compliance services.

This strategic move demonstrates Salesforce's commitment to bolstering data security, privacy, and compliance across its platform. By bringing Own Company into its fold, Salesforce aims to ensure the availability, security, and compliance of customer data, further solidifying its position as the world's leading AI CRM.

Under the terms of the agreement, Salesforce will acquire Own Company, trusted by nearly 7,000 customers for safeguarding mission-critical data. Own empowers organizations to protect their data, gain insights from it, and accelerate AI-driven innovation. The Own Data Platform offers data archiving, seeding, security, and analytics capabilities, enabling customers to ensure the availability, compliance, and security of their SaaS data.

Steve Fisher, President and GM of Einstein 1 Platform and Unified Data Services at Salesforce, highlighted the significance of data security in today's landscape. He stated, "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. This proposed transaction underscores our commitment to providing secure, end-to-end solutions that protect our customers' most valuable data and navigate the shifting landscape of data security and compliance."

The acquisition of Own Company comes at a time when organizations are increasingly focused on mitigating data loss from system failures, human error, and cyberattacks. As the adoption of AI accelerates, the need to protect and manage access to data becomes even more apparent. By investing in cloud-native data protection solutions, Salesforce aims to accelerate the growth of its Platform Data Security, Privacy, and Compliance products.

With Own's capabilities complementing Salesforce's existing offerings, such as Salesforce Backup, Shield, and Data Mask, customers can expect a more comprehensive set of data protection and loss prevention products. This move further emphasizes Salesforce's commitment to providing secure, end-to-end solutions that protect customers' valuable assets and harness the power of AI to derive insights from historical data.

The acquisition is expected to close in the fourth quarter of Salesforce's fiscal year 2025, pending customary closing conditions and regulatory approvals. Salesforce's financial guidance for fiscal year 2025, announced on August 28, 2024, remains unaffected by the transaction. Salesforce anticipates achieving accretion on a free cash flow basis starting in the second year following the closing of the acquisition.

The proposed deal between Salesforce and Own Company signals a strong commitment to data security and compliance in a rapidly evolving digital landscape. By joining forces, the two companies will deliver enhanced value to customers, driving innovation, securing data, and ensuring compliance in even the most complex and highly regulated industries.