BY Fraser Tennant
In its third acquisition in little more than a month, US cloud-based software company Salesforce is to acquire Own Company, a data protection and management solutions start-up, for approximately $1.9bn in cash.
The move to acquire Own Company is the latest example of Salesforce’s ‘try before you buy’ acquisition strategy, which follows deals to buy start-up software company Tenyx and retail point of sale software vendor PredictSpring.
Moreover, the acquisition comes at a time when customers are increasingly focused on mitigating data loss due to system failures, human error and cyber attacks, with the advent of artificial intelligence (AI) making customers even more aware of the need to protect and manage access to data.
“Data security has never been more critical, and Own Company’s proven expertise and products will enhance our ability to offer robust data protection and management solutions,” said Steve Fisher, president and general manager of Einstein 1 Platform and Unified Data Services at Salesforce. “This 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.”
Trusted by nearly 7000 customers to safeguard mission-critical data, Own Company’s data platform provides data archiving, seeding, security and analytics capabilities that help customers ensure the availability, compliance and security of their mission-critical software as a service data.
“We are excited to join forces with Salesforce, a company that shares our commitment to data resilience and security,” said Sam Gutmann, chief executive of Own Company. “As digital transformation accelerates, our mission has expanded from preventing data loss in the cloud to helping customers protect their data, unlock business insights and accelerate AI-driven innovation.”
The transaction is expected to close in the fourth quarter of Salesforce’s fiscal year 2025, subject to customary closing conditions, including the receipt of required regulatory approvals.
Mr Gutmann concluded: “Together with Salesforce, we will deliver even greater value for our customers by driving innovation, securing data and ensuring compliance in the world’s most complex and highly regulated industries.”
News: Salesforce to buy data protection provider Own Company for $1.9 bln