In a move aimed at enhancing its data protection capabilities, Salesforce has announced the acquisition of New Jersey-based data management company Own for $1.9 billion in cash. This marks Salesforce’s largest deal since its $27.7 billion purchase of Slack in 2021.
Salesforce General Manager Steve Fisher emphasized the strategic importance of the acquisition in a press release, stating, “This deal underscores our 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 will bolster our ability to deliver robust data protection and management tools.”
Founded in 2015, Own, formerly known as OwnBackup, specializes in enterprise-level data backup and disaster recovery solutions. The company initially focused on leveraging open APIs from software-as-a-service (SaaS) vendors, including Salesforce, to extract and back up application data. Own’s services have since expanded to include support for AWS and Microsoft-hosted apps.
Own, co-founded by Ariel Berkman, Daniel Gershuni, and Eran Cohen, has grown rapidly, raising $507.3 million from prominent investors such as Tiger Global, BlackRock, Insight Partners, and Salesforce Ventures. As of August 2021, Own was valued at $3.35 billion, reflecting the growing demand for data backup and recovery solutions in the face of rising threats like ransomware and data center outages.
With a customer base of nearly 7,000 businesses and hundreds of employees, Own offers a broad suite of data archiving, security, and analytics services. CEO Sam Gutmann sees the acquisition as a natural fit, complementing Salesforce’s existing data management tools. “Together with Salesforce, we’ll deliver even greater value for our customers by driving innovation, securing data, and ensuring compliance in complex, highly regulated industries,” said Gutmann.
The acquisition, expected to close in the fourth quarter of Salesforce’s fiscal year 2025, is subject to regulatory approvals. It may also signal a renewed focus on larger acquisitions for Salesforce, following a period where the company had stepped back from major deals under pressure from activist investors. In recent months, Salesforce has completed smaller acquisitions, including PredictSpring and Tenyx, as part of its ongoing strategy to enhance its platform capabilities.
As data management and security become more pressing for businesses worldwide, the integration of Own’s solutions into Salesforce’s ecosystem is set to further strengthen its data resilience offerings.
