By Salesforce has announced its acquisition of Own Company, a data management and protection solutions provider based in New Jersey, for $1.9 billion in cash. This move marks Salesforce’s largest acquisition since its $27.7 billion purchase of Slack in 2021. Earlier this year, Salesforce reportedly considered acquiring data management software firm Informatica but ultimately chose not to proceed.
Own, which was launched in 2015 as OwnBackup and rebranded last October, provides enterprise-focused data backup tools and services, including automated backup and disaster recovery. The company initially aimed to leverage software-as-a-service vendors’ open APIs, such as Salesforce’s, to extract and back up data from various applications. Beyond Salesforce apps, Own also supported SaaS apps hosted on AWS and Microsoft.
Founded by Ariel Berkman, Daniel Gershuni, and Eran Cohen, Own raised $507.3 million from investors like Tiger Global, BlackRock, Insight Partners, Vertex Ventures, and Salesforce Ventures prior to the acquisition. As of August 2021, Own was valued at $3.35 billion. This valuation reflects the substantial size of the data backup and recovery sector, which KBV Research valued at $12.9 billion in 2023, with a compound annual growth rate of 10.9% from 2017.
Steve Fisher, Salesforce GM, stated that the acquisition “underscores [Salesforce’s] commitment to providing secure, end-to-end solutions that protect our customers’ most valuable data.” He added, “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.”
Own, which now serves nearly 7,000 customers and employs hundreds of staff, offers a portfolio that includes data archiving, seeding, security, and analytics. CEO Sam Gutmann highlighted that Own’s integration with Salesforce would complement existing data management tools and provide a more comprehensive set of data protection and loss prevention products. Gutmann expressed enthusiasm about the merger, stating, “We’re excited to join forces with Salesforce, a company that shares our commitment to data resilience and security. 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 deal to close in the fourth quarter of its fiscal year 2025, pending regulatory approvals and customary closing conditions. This acquisition signals Salesforce’s return to significant M&A activity after a period of shifting focus away from large deals due to pressure from activist investors. Recently, Salesforce has also acquired smaller startups like PredictSpring and Tenyx.
