Trends
Salesforce to acquire data protection firm Own Company for $1.9B
Salesforce announced plans on Thursday to acquire Own Company, a data protection and management provider, for $1.9 billion in cash.
Headline
Salesforce announced plans on Thursday to acquire Own Company, a data protection and management provider, for $1.9 billion in cash.
Context
OUR TAKE This highlights Salesforce’s strategic move to strengthen its position in the growing market for data security and privacy, which is increasingly crucial for businesses facing rising threats from cyberattacks and data loss. The acquisition of Own Company shows Salesforce’s commitment to expanding its offerings in this area, potentially giving it a competitive edge. –Jennifer Yu, BTW reporter Salesforce announced plans on Thursday to acquire Own Company, a data protection and management provider, for $1.9 billion in cash. The acquisition aims to strengthen Salesforce’s data security and privacy offerings amid rising customer concerns over data loss from system failures, human error, and cyberattacks.
Evidence
Pending intelligence enrichment.
Analysis
Salesforce expects the deal to positively impact free cash flow by the second year and confirmed that it will not affect its fiscal 2025 forecast or capital return programme. Own Company, backed by investors like BlackRock and Tiger Global, has raised over $500 million and partnered with Microsoft Dynamics 365. This follows Salesforce’s recent agreement to acquire AI firm Tenyx. After last year’s focus on share buybacks, the company is revisiting acquisitions to boost revenue growth. Also read: Salesforce to acquire AI voice agent firm Tenyx, joining AI talent race Also read: Salesforce cuts more jobs in latest sign of tech austerity
Key Points
- Salesforce is acquiring Own Company for $1.9 billion to strengthen its data security and privacy products.
- Salesforce is using acquisitions, like Own Company and Tenyx, to boost revenue growth and expand its product offerings.
Actions
Pending intelligence enrichment.
