Salesforce to Acquire Own

Salesforce is set to acquire data protection and management vendor Own Co. for approximately $1.9 billion in cash. This move aligns with Salesforce’s ongoing investment in artificial intelligence (AI) and its efforts to bolster cybersecurity amidst rising data security concerns.

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The San Francisco-based CRM giant expects to finalize the acquisition of Own by the fourth quarter of its fiscal year 2025, according to a company statement. Own, formerly known as OwnBackup, touts itself as the leading cloud data protection platform for Salesforce, serving around 7,000 customers with services such as data archiving, security, and analytics.

“Data security has never been more critical.”
Steve Fisher, president and general manager of Salesforce’s Einstein 1 platform

He highlighted that Own’s expertise would enhance Salesforce’s data protection and management capabilities, reinforcing the company’s commitment to secure, end-to-end solutions.

Sam Gutmann, CEO of Own, echoed the sentiment, stating that the acquisition would allow Own and Salesforce to drive innovation and secure data, particularly in highly regulated industries. Gutmann, who previously founded Intronis, has led Own’s growth since its establishment in 2015, with backing from investors like BlackRock and Salesforce Ventures. The acquisition is expected to strengthen Salesforce’s existing offerings, such as Backup, Shield, and Data Mask.

Own, known for its data resilience platform, has raised over $500 million in funding and partnered with major tech players like ServiceNow and Microsoft Dynamics 365.

The deal comes shortly after Salesforce announced plans to acquire Tenyx, an AI-powered voice agent startup, as part of its broader AI-driven strategy.

Salesforce has shifted focus from larger acquisitions in recent years, prioritizing shareholder returns. However, this purchase reflects the company’s strategic shift towards enhancing its AI and data security solutions to maintain growth momentum.

Salesforce anticipates that the Own deal will be accretive to free cash flow starting in the second year after the transaction closes, without affecting its current capital return program. This acquisition underscores Salesforce’s evolving focus on data protection, especially as AI adoption grows and data security becomes increasingly important.