Salesforce, the #1 AI CRM, is set to acquire Own Company, a provider of data protection and management solutions, for $1.9 billion in cash.
Own has nearly 7,000 customers to safeguard mission-critical data. The Own Data Platform provides data archiving, seeding, security, and analytics capabilities that help customers ensure security of their SaaS data. Own’s capabilities will complement Salesforce’s existing offerings, such as Salesforce Backup, Shield, and Data Mask.
The acquisition aimed to accelerate growth of its data security and privacy products comes at a time when customers are increasingly focused on mitigating data loss due to system failures, human error, and cyberattacks.
Spending on information security solutions is projected to grow 15.1 percent to $212 billion in 2025, according to a new forecast from Gartner.
Salesforce said there will be no change to the enterprise cloud firm’s fiscal year 2025 forecast.
Own has raised more than $500 million in funding from BlackRock, Salesforce Ventures and Tiger Global, among others. Own has partnered with ServiceNow and Microsoft Dynamics 365, according to its website, Reuters news report said.
Salesforce on Tuesday said it has agreed to acquire Tenyx, which develops artificial intelligence-powered voice agents, to advance its AI-driven solutions, without disclosing the deal value.
