Salesforce has announced its acquisition of New Jersey-based data management and protection company, Own, in a deal worth $1.9 billion in cash.
This marks Salesforce’s largest purchase since its $27.7 billion acquisition of Slack in 2021. Earlier this year, the company considered buying Informatica, a data management software firm but decided against it.
Steve Fisher, General Manager at Salesforce, highlighted the significance of the acquisition, stating, “This move underscores Salesforce’s commitment to providing secure, end-to-end solutions that protect our customers’ most valuable data.” He emphasized the growing importance of data security and how Own’s expertise would enhance Salesforce’s offerings.
Founded in 2015 as OwnBackup, Own provides enterprise-focused data backup and disaster recovery solutions, leveraging APIs from software-as-a-service (SaaS) vendors like Salesforce. The company has expanded its product portfolio to include data archiving, seeding, security, and analytics tools. Own was co-founded by Ariel Berkman, Daniel Gershuni, and Eran Cohen and has raised $507.3 million from investors such as Tiger Global, BlackRock, and Insight Partners.
As of 2021, Own was valued at $3.35 billion, reflecting the growth of the global data backup and recovery market, which was worth $12.9 billion in 2023, according to KBV Research. This market is expanding due to rising concerns over ransomware, data center disasters, and stringent data regulations like the EU AI Act.
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With nearly 7,000 customers and hundreds of employees, Own’s CEO Sam Gutmann believes the acquisition will complement Salesforce’s existing data management tools. “We’re excited to join forces with Salesforce and drive innovation, secure data, and ensure compliance in highly regulated industries,” Gutmann said.
The acquisition will close in the fourth quarter of Salesforce’s fiscal year 2025, pending regulatory approval. This move signals Salesforce’s potential return to major acquisitions after stepping back from mergers and acquisitions due to pressure from activist investors. Recently, the company acquired startups PredictSpring and Tenyx, focusing on omnichannel commerce and AI-powered voice agents, respectively.
