Salesforce in Advanced Talks to Acquire Privately Held Own Company for $1.9 Billion

Sep 5, 2024, 08:37 PM

Salesforce has signed a definitive agreement to acquire Own Company, a privately held provider of data protection and data management solutions, for approximately $1.9 billion in cash. The transaction is expected to close in the fourth quarter of Salesforce's fiscal year 2025. This acquisition is anticipated to be Salesforce's largest deal since its purchase of Slack in 2021. Own Company, previously known as OwnBackup, was last valued above $3 billion in 2021. Salesforce expects free cash flow accretion starting in the second year post-closing. Salesforce already owns 10% of Own Company's shares.