By acquiring Own Company, salesforce aims to bolster its data security and privacy offerings. Learn more about the deal and its impact on Salesforce’s growth strategy.
Salesforce said on Thursday it would buy Own Company, a provider of data protection and management solutions, for $1.9 billion in cash to accelerate the growth of its data security and privacy products.
The acquisition comes as customers are increasingly focused on mitigating data loss due to system failures, human error, and cyberattacks.
Salesforce expects to achieve accretion on a free cash flow basis starting in the second year following the closing of the deal, which it anticipates to be in the fourth quarter of fiscal 2025.
Salesforce said there is no anticipated change to the enterprise cloud firm’s fiscal year 2025 forecast, and the deal will not impact its capital return program.
According to its website, Own has raised over $500 million in funding from BlackRock, Salesforce Ventures, and Tiger Global, among others, and has partnered with ServiceNow and Microsoft Dynamics 365.
On Tuesday, Salesforce said it had agreed to acquire Tenyx, which develops artificial intelligence-powered voice agents, to advance its AI-driven solutions without disclosing the deal value.
Also Read: AI Agents Revolutionize Crypto Transactions on Base
Last year, under pressure from activist investors, Salesforce announced plans to double its share buybacks and shift away from acquiring more companies after disbanding its mergers and acquisitions committee.
The California-based company is now looking at acquisitions to re-accelerate its revenue growth.
