Salesforce Acquires Data Management Firm Own for $1.9 Billion

The acquisition is in line with Salesforce's plan to improve its data security offerings

Salesforce reported that it will pay $1.9 billion in cash to acquire Own, a provider of data management and protection solutions with headquarters in New Jersey. With the $27.7 billion acquisition of Slack in 2021, this deal becomes Salesforce's largest acquisition to date.

Established in 2015 under the name OwnBackup, the company changed its name to Own in 2023 and provides security, data archiving, automatic backup, and disaster recovery solutions. Own has grown to be a top supplier of data backup solutions, with about 7,000 users and extensive association with SaaS platforms like Microsoft and AWS. Notably, Salesforce's network plays a major role in a large portion of its revenue. The acquisition is in line with Salesforce's plan to improve its data security offerings.  Salesforce General Manager Steve Fisher underlined the importance of the change, pointing out that Own's experience will improve Salesforce's capacity to provide complete management and protection solutions as data security has gained more importance. Sam Gutmann, CEO of Own, stated similar thoughts and expressed excitement about partnering with Salesforce to promote innovation in highly regulated industries by expanding data resilience, security, and compliance.

With an expected compound annual growth rate of 10.9% for the global data backup and recovery market, Salesforce will be able to benefit from this purchase as demand for secure data management continues to rise. With regulatory approvals still under process, Salesforce expects completing the purchase in Q4 of the 2025 fiscal year.