Salesforce acquires the data protection provider’s own company

On Thursday, Salesforce revealed its plan to purchase Own Company, a provider of data protection and management solutions, for $1.9 billion in cash. This acquisition aims to boost Salesforce’s business growth, especially in the areas of data privacy and security products.

This acquisition occurs as customers are becoming more concerned with preventing data loss from system failures, human mistakes, and cyber-attacks. 

Salesforce anticipates that the deal, expected to close in the fourth quarter of fiscal 2025, will lead to an increase in free cash flow beginning in the second year post-acquisition.

Salesforce announced that there are no revisions to its fiscal year 2025 forecast and that the acquisition will not affect its capital return program. 

Salesforce. Photo: Interner

Own has secured over $500 million in total funding from investors such as BlackRock, Salesforce Ventures, and Tiger Global, and has formed partnerships with ServiceNow and Microsoft Dynamics 365, as reported on its website. 

Additionally, Salesforce confirmed on Tuesday that it has entered into an agreement to acquire Tenyx, a company specializing in AI-powered voice agents, to strengthen its AI-driven solutions. The financial terms of the deal were not disclosed.

Last year, due to pressure from activist investors, Salesforce revealed plans to double its share buybacks and move away from acquiring additional companies after disbanding its mergers and acquisitions committee. 

However, the California-based company is now contemplating acquisitions to boost revenue growth.