In a seismic move that’s reverberating through the tech world, Salesforce has announced its acquisition of data protection company Own (formerly OwnBackup) for a staggering $1.9 billion in cash. This acquisition represents Salesforce’s most significant purchase since it bought Slack in 2021, and it’s already being hailed as a transformative moment for both companies.
Expanding Salesforce’s Data Dominance
The acquisition solidifies Salesforce’s commitment to data security and resilience. Own, renowned for its advanced data protection, archiving, and recovery solutions, has long been a trusted partner for companies aiming to secure mission-critical data in cloud environments. Salesforce’s interest in Own was no secret; it had already held a 10% stake through its investment arm, Salesforce Ventures. Now, with complete ownership, Salesforce is poised to integrate Own’s powerful data management capabilities into its core offerings, providing a stronger safety net for enterprises around the world.
Why Own? Data Security Meets Innovation
With data breaches and compliance challenges escalating globally, this acquisition couldn’t come at a better time. Own has become a go-to solution for over 7,000 companies, thanks to its robust platform that offers data archiving, seeding, security, and advanced analytics. The platform’s ability to secure data across platforms like Salesforce, AWS, and Microsoft has made it indispensable, particularly for enterprises in highly regulated sectors like finance, healthcare, and government
Steve Fisher, President of Salesforce’s Einstein 1 Platform, commented, “The acquisition of Own underscores Salesforce’s commitment to ensuring that our customers’ data is safe, available, and compliant, while unlocking insights for greater business growth.”
Implications for the Future
The integration of Own into Salesforce’s ecosystem is expected to provide enhanced tools for data-driven decision-making, which are critical as AI-powered solutions continue to reshape industries. With its expertise in historical data analytics, Own helps companies not only protect their data but also harness its potential for innovation. As the need for data governance and compliance intensifies, this acquisition places Salesforce in an even stronger position to serve its clients’ evolving needs
Sam Gutmann, CEO of Own, expressed his excitement about the deal, stating, “Joining forces with Salesforce allows us to scale our mission of data resilience and accelerate innovation, ensuring that companies can securely navigate the next wave of digital transformation.”
A Calculated Gamble
Salesforce’s decision to acquire Own reflects its broader strategy of doubling down on data security, particularly as companies become increasingly reliant on cloud services. Despite Own‘s valuation shrinking from its $3.35 billion peak in 2021 due to market shifts, Salesforce’s investment in the company is widely seen as a savvy move to strengthen its product portfolio.
Looking Ahead
The acquisition is set to close by the end of Salesforce’s fiscal year 2025, pending regulatory approval. As Own becomes a vital component of Salesforce’s platform, the industry eagerly watches how this partnership will reshape data management and security standards in the cloud.
For now, Salesforce’s message is clear: in a world where data is the new oil, the company is pulling out all the stops to ensure it has the best drill