Salesforce Buys Data Protection Firm Own for $1.9 Billion
Salesforce purchases data management company Own for $1.9 billion in cash to boost its enterprise security offerings. The deal marks the cloud giant's largest acquisition since its Slack buyout in 2021.
Salesforce acquires data management and protection firm Own for $1.9 billion in cash, marking its largest deal since purchasing Slack. The company chooses Own after reportedly considering but passing on buying Informatica earlier this year. Salesforce executive Steve Fisher states the purchase highlights a commitment to providing secure, end-to-end solutions that protect customer data.
Originally launched as OwnBackup in 2015, Own provides enterprise tools like automated backup and disaster recovery for SaaS applications. The company uses open APIs to extract and secure data from platforms beyond just Salesforce, including apps hosted on AWS and Microsoft. Prior to this buyout, Own raises over $500 million from major investors and reaches a valuation of $3.35 billion in 2021.
The acquisition targets a rapidly growing global data backup and recovery market that is worth $12.9 billion in 2023. Businesses face rising threats from ransomware attacks, physical data center disasters, and strict new data regulations like the EU AI Act. With close to 7,000 customers today, Own brings expanded data archiving, security, and analytics capabilities to Salesforce's portfolio.