Salesforce announced on Thursday that it will acquire Own Company, formerly known as OwnBackup, for $1.9 billion in cash, Calcalist reported.
Own, which specializes in data protection and management solutions, was founded in 2015 by Israelis Ariel Berkman, Daniel Gershuni, and Eran Cohen. Own's management moved to the US several years ago, but the company's R&D center remains headquartered in Israel.
The company has secured over $500 million from investors such as Tiger Global, BlackRock, Insight Partners, Vertex Ventures, and Salesforce Ventures.
Own was valued at $3.35 billion when it raised $240 million in its Series E funding round in August 2021.
“We’re excited to join forces with Salesforce, a company that shares our commitment to data resilience and security,” said Sam Gutmann, CEO of Own. “As digital transformation accelerates, our mission has expanded from preventing data loss in the cloud to helping customers protect their data, unlock business insights, and accelerate AI-driven innovation. Together with Salesforce, we’ll deliver even greater value for our customers by driving innovation, securing data, and ensuring compliance in the world’s most complex and highly regulated industries.”
Own serves nearly 7,000 customers with its data platform, offering features like data archiving, seeding, security, and analytics. These capabilities enable customers to maintain the availability, compliance, and security of their critical SaaS data.
The company also helps organizations use historical data to make better decisions and gain a competitive edge.
“Data security has never been more critical, and Own’s proven expertise and products will enhance our ability to offer robust data protection and management solutions to our customers,” said Steve Fisher, President and GM of the Einstein 1 Platform and Unified Data Services. “This proposed transaction underscores our commitment to providing secure, end-to-end solutions that protect our customers’ most valuable data and navigate the shifting landscape of data security and compliance.”
The acquisition is expected to close in the fourth quarter of Salesforce’s fiscal year 2025. It marks Salesforce’s largest acquisition since purchasing Slack in 2021.