$238 Billion Salesforce to Buy Data Protection & Management Firm Own Company for $1.9 Billion, Own Company Founded in 2015 by Samuel Gutmann, Eran Cohen, Ariel Berkman, Daniel Gershuni, Danny Kario & Ori Yankelev
12th September 2024 | Hong Kong
United States cloud-based software giant Salesforce ($238 billion market value) has announced to buy data protection & management firm Own Company for $1.9 billion. Own Company was founded in 2015 by Samuel Gutmann, Eran Cohen, Ariel Berkman, Daniel Gershuni, Danny Kario & Ori Yankelev. Salesforce (5/9/24): “Salesforce (NYSE: CRM), the world’s #1 AI CRM, today announced it has signed a definitive agreement to acquire Own Company, a leading provider of data protection and data management solutions. Own empowers organizations to ensure the availability, security, and compliance of mission-critical data, while unlocking new ways to gain deeper insights from this data. Under the terms of the agreement, Salesforce will acquire Own for approximately $1.9 billion in cash, net of the value of the approximately 10% of outstanding shares currently owned by Salesforce, subject to customary purchase price adjustments. As a Salesforce AppExchange partner since 2012 and a Salesforce Ventures portfolio company, Own has grown beyond its initial backup and recovery offerings, and today is trusted by nearly 7,000 customers to safeguard mission-critical data. The Own Data Platform provides data archiving, seeding, security, and analytics capabilities that help customers ensure the availability, compliance, and security of their mission-critical SaaS data. Own also helps organizations leverage their historical data to optimize decision-making and gain a competitive advantage … … The acquisition comes at a time when customers are increasingly focused on mitigating data loss due to system failures, human error, and cyberattacks. The advent of AI has made customers even more aware of the need to protect and manage access to data. By investing more deeply in pure cloud-native data protection solutions, Salesforce aims to accelerate the growth of its Platform Data Security, Privacy, and Compliance products. Own’s capabilities will complement Salesforce’s existing offerings, such as Salesforce Backup, Shield, and Data Mask. This will enable Salesforce to offer a more comprehensive data protection and loss prevention set of products, further reinforcing its commitment to providing secure, end-to-end solutions. These solutions are essential for protecting customers’ most valuable assets—their data—and for deriving the most value from their historical data by leveraging AI to understand trends and forecast future growth.” Transaction Details – The transaction is expected to close in the fourth quarter of Salesforce’s fiscal year 2025, subject to customary closing conditions, including the receipt of required regulatory approvals. Based on the expected timing of closing of the transaction, there is no anticipated change to Salesforce’s fiscal year 2025 financial guidance, previously announced on August 28, 2024. The transaction will not impact Salesforce’s capital return program. Salesforce expects to achieve accretion on a free cash flow basis starting in the second year following the closing of the transaction and continuing thereafter.
“ $238 Billion Salesforce to Buy Data Protection & Management Firm Own Company for $1.9 Billion, Own Company Founded in 2015 by Samuel Gutmann, Eran Cohen, Ariel Berkman, Daniel Gershuni, Danny Kario & Ori Yankelev “
Own – Own is the leading data platform trusted by thousands of organizations to protect and activate SaaS data to transform their businesses. Own empowers customers to ensure the availability, security, and compliance of mission-critical data, while unlocking new ways to gain deeper insights faster. By partnering with some of the world’s largest SaaS ecosystems such as Salesforce, ServiceNow, and Microsoft Dynamics 365, Own enables customers around the world to truly own the data that powers their business.
$238 Billion Salesforce to Buy Data Protection & Management Firm Own Company for $1.9 Billion, Own Company Founded in 2015 by Samuel Gutmann, Eran Cohen, Ariel Berkman, Daniel Gershuni, Danny Kario & Ori Yankelev
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