Salesforce has announced a definitive agreement to acquire Own , a provider of data protection and data management services. Following the closing of a transaction to acquire Predictspring in August 2024, Salesforce, an AI CRM company, signed a deal to complete another acquirement, this time of Own, a firm enabling organisations to ensure the availability, security, and compliance of data.

Under the agreement, Salesforce is set to purchase Own for nearly USD 1.9 billion in cash, net of the value of approximately 10% of outstanding shares currently owned by the firm. At the time of the announcement, the move was subject to customary purchase price adjustments. When commenting on the news, representatives from Salesforce underlined that, as data security increased in importance, Own’s knowledge and products are set to augment their company’s ability to provide data protection and management solutions to customers.

Additionally, the proposed transaction highlights Salesforce’s commitment to offering secure, end-to-end solutions that safeguard customers’ data and navigate the ever-evolving landscape of data security and compliance. At the same time, Own mentioned that, with digital transformation accelerating, their firm’s mission shifted from preventing data loss in the cloud to also including supporting customers to safeguard their data, unlock business insights, and develop AI-enabled products. Moreover, by collaborating with Salesforce, Own intends to provide greater value to customers by assisting innovation, securing data, and ensuring compliance with global regulatory requirements and standards.

Salesforce and Own’s transaction details Complementing Salesforce’s existing offering, including Salesforce Backup, Shield, and Data Mask, Own’s features are set to allow the company to provide a more comprehensive data protection and loss prevention suite of products. As per the information detailed in the press release, the transaction is projected to close in the fourth quarter of Salesforce’s fiscal year 2025, subject to customary closing conditions, including the receipt of necessary regulatory approvals. Also, the agreement with Own is set to not impact the company’s capital return program.

Considering the expected closing timing of the transaction, no change is anticipated for Salesforce’s fiscal year 2025 financial guidance. Source: Link .