Salesforce has acquired Own Company, a New Jersey-based provider of data management and protection solutions, for $1.9 billion in cash.
Own is Salesforce’s biggest deal since buying Slack in 2021.
In a press release, Salesforce GM Steve Fisher said that the acquisition “underscores [Salesforce’s] commitment to providing secure, end-to-end solutions that protect our customers’ most valuable data.”
“Data security has never been more critical, and Own’s proven expertise and products will enhance our ability to offer robust data protection and management solutions to our customers,” Fisher continued.
Own, launched in 2015 as OwnBackup (the company rebranded last October), provides a range of enterprise-focused data backup tools as well as services such as automated backup and disaster recovery. Founded by Ariel Berkman, Daniel Gershuni and Eran Cohen, Own managed to raise $507.3 million from investors including Tiger Global, BlackRock, Insight Partners, Vertex Ventures and Salesforce’s own Salesforce Ventures prior to its buyout (per Crunchbase).
As of August 2021, Own was valued at $3.35 billion.
Today, Own has close to 7,000 customers and hundreds of employees, and offers a portfolio of data archiving, seeding, security and analytics capabilities far expanded beyond the company’s early products. Own CEO Sam Gutmann sees Own complementing Salesforce’s existing data management tooling and “enabl[ing] Salesforce to offer a more comprehensive data protection and loss prevention set of products.”
That’d be a natural evolution for Own, in a way. As my colleague Ron Miller previously wrote, the majority of the company’s backup and recovery business involves the Salesforce ecosystem.
“We’re excited to join forces with Salesforce, a company that shares our commitment to data resilience and security,” Gutmann said in a statement. “Together with Salesforce, we’ll deliver even greater value for our customers by driving innovation, securing data and ensuring compliance in the world’s most complex and highly regulated industries.”
Salesforce expects the transaction to close in Q4 of its fiscal year 2025, subject to regulatory approvals and customary closing conditions.