Salesforce has acquired Own Company, a data management and protection solutions provider, for $1.9 billion in a cash deal, reports TechCrunch.
Own, originally founded as OwnBackup in 2015, offers enterprise-level data backup, disaster recovery, and security solutions with a focus on SaaS platforms like Salesforce, AWS, and Microsoft. The acquisition aims to strengthen Salesforce’s data security capabilities.
Own CEO Sam Gutmann noted, that his company's technology would complement Salesforce's data management offerings and would enable the company to offer "a more comprehensive data protection and loss prevention set of products.”
The global data backup and recovery market is currently valued at $12.9 billion in 2023 and continues to grow due to increasing ransomware threats, disasters, and stricter data management regulations. The acquisition is expected to close in the fourth quarter of Salesforce's fiscal year 2025, pending regulatory approvals. It is Salesforce's largest acquisition since its $27.7 billion purchase of Slack in 2021.
