Salesforce Acquires Data Management Firm Own for $1.9 Billion
SanFrancisco, CA – Salesforce, the leading cloud-based software company, hasacquired Own Company, a New Jersey-based provider of data management and protection solutions, for $1.9 billion in cash. This deal marks Salesforce’slargest acquisition since buying Slack for $27.7 billion in 2021.
Own specializes in providing enterprise-focused data backup tools and services, including automated backup and disaster recovery. The company initially focused on using software-as-a-service (SaaS) vendors’ open APIs, including Salesforce’s, to extract and back up data from a company’s applications.Since then, Own has expanded its services to support SaaS apps hosted on AWS and Microsoft.
The acquisition comes at a time when data security and management are becoming increasingly critical for businesses. Companies are facing growing threats from ransomware attacks, data centerdisasters, and increasingly stringent data management regulations.
Strategic Fit:
Salesforce CEO Steve Fisher stated that the acquisition underscores [Salesforce’s] commitment to providing secure, end-to-end solutions that protect our customers’ most valuable data. Own’s expertise and products will enhance Salesforce’s ability to offer robust data protection and management solutions to its customers.
Own’s portfolio of data archiving, seeding, security, and analytics capabilities complements Salesforce’s existing data management tooling. As Own CEO Sam Gutmann explained, the acquisition will enable Salesforce to offer a more comprehensive data protection and loss prevention setof products.
Market Trends:
The global data backup and recovery sector is experiencing significant growth, driven by factors such as increasing ransomware threats, data center disasters, and data management regulations. According to market analytics firm KBV Research, the sector was worth $12.9 billion in 2023, growing at a compound annual growth rate of 10.9% from 2017 to last year.
Conclusion:
Salesforce’s acquisition of Own represents a strategic move to strengthen its data management capabilities and address the growing demand for secure data protection solutions. The deal is expected to benefitboth companies, with Own gaining access to Salesforce’s vast customer base and Salesforce gaining a leading data management provider to enhance its offerings.
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