Data protection firm Own acquired by Salesforce

Share This Post



Salesforce has acquired Own Company, a data management and protection solutions provider, for $1.9 billion in a cash deal, reports TechCrunch.

Own, originally founded as OwnBackup in 2015, offers enterprise-level data backup, disaster recovery, and security solutions with a focus on SaaS platforms like Salesforce, AWS, and Microsoft. The acquisition aims to strengthen Salesforce’s data security capabilities.

Own CEO Sam Gutmann noted, that his company’s technology would complement Salesforce’s data management offerings and would enable the company to offer “a more comprehensive data protection and loss prevention set of products.”

The global data backup and recovery market is currently valued at $12.9 billion in 2023 and continues to grow due to increasing ransomware threats, disasters, and stricter data management regulations. The acquisition is expected to close in the fourth quarter of Salesforce’s fiscal year 2025, pending regulatory approvals. It is Salesforce’s largest acquisition since its $27.7 billion purchase of Slack in 2021. 



Source link

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore

Blogs

Mickey Mouse operation hacked by former employee

A disgruntled former Disney worker stands accused of illegally hacking the company’s systems and harassing its workers. Michael Scheuer, a former system administrator with the

Do You Want To Boost Your Business?

drop us a line and keep in touch