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Salesforce hasacquiredOwn Company , a New Jersey - base supplier of data direction and protective cover solutions , for $ 1.9 billion in cash ( after subtract the economic value of shares Salesforce already possess ) .
Own is Salesforce ’s big deal sincebuying Slackfor $ 27.7 billion in 2021 . The companyreportedlyconsidered — but at long last decided against — purchasing data management software program firm Informatica to begin with this year .
In a press release , Salesforce GM Steve Fisher say the acquisition “ underscore [ Salesforce ’s ] commitment to allow for dependable , end - to - end solutions that protect our customers ’ most valuable data . ”
“ Data security system has never been more critical , and Own ’s show expertise and intersection will enhance our power to offer robust data protection and management answer to our client , ” Fisher continue .
Own , plunge in 2015 as OwnBackup ( the company rebranded last October ) , cater a range of enterprise - focused datum computer backup tools and services such as automatise reliever and disaster recuperation .
The initial idea was to practice software - as - a - inspection and repair vendors ’ open genus Apis , including Salesforce ’s , to extract and back up information from a troupe ’s applications . Beyond Salesforce apps , Own supported SaaS apps hosted on AWS and Microsoft .
set up 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 today ’s buyout ( perCrunchbase ) .
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As of August 2021 , Own wasvaluedat $ 3.35 billion .
It ’s a eminent valuation — but perhaps one justified by the massive size of the data stand-in and convalescence section . Accordingto market analytics firm KBV Research , the global data patronage and recovery sector was worth $ 12.9 billion in 2023 , get at a compound yearly growing rate of 10.9 % from 2017 to last year .
The reasons for the ontogenesis are infinite .
business face increasingthreats link to ransomware . There ’s also the issue of data center disasters like the fervency thathit France ’s OVH in 2021 , run to important data exit . In some countries , data point management - related regulations like the EU AI Act are coming into military unit , many with nonindulgent data retention and birthplace condition .
Today , Own has close to 7,000 customers and C of employees . The company extend a portfolio of data archiving , seeding , security and analytics capability that have greatly expand beyond the society ’s early product . Own CEO Sam Gutmann sees Own complementing Salesforce ’s be information direction tooling and “ enabl[ing ] Salesforce to offer a more comprehensive data protection and loss bar hardening of products . ”
That ’d be a natural development for Own . As my confrere Ron Miller previouslywrote , the majority of the company ’s backup man and recovery business regard the Salesforce ecosystem .
“ We ’re excited to conjoin forces with Salesforce , a troupe that shares our committedness to information resilience and security , ” Gutmann enunciate in a statement . “ Together with Salesforce , we ’ll deliver even great value for our customers by driving innovation , securing data and control obligingness in the world ’s most complex and highly regulated industries . ”
Salesforce have a bun in the oven the transaction to conclude in Q4 of its financial class 2025 , open to regulative approvals and customary completion weather condition .
Own could very well betoken Salesforce ’s regaining to big acquisitions a year after the company aver it would shift away from M&A , under press from activistic investor . ( It went so far as to disband its M&A committee . ) In recent weeks , Salesforce has closed diminished acquisition deals , snatching up startups PredictSpring ( an omnichannel Commerce Department platform ) and Tenyx ( which makes AI - power vocalism agents ) .
