Data News > Salesforce Acquires Data-Security Startup Own for $1.9 Billion in Cash
- Salesforce announces the acquisition of data-security startup Own for $1.9 billion in cash
- The acquisition is expected to be accretive to free cash flow in the second year after the deal closes
- Own supports backups for Microsoft's Dynamics software, Salesforce, and ServiceNow
- Salesforce acquires Own, a provider of data management and protection solutions
- Salesforce to buy data protection provider Own Company for $1.9 billion
Salesforce, a leading cloud computing company, has made a significant move in the tech industry by acquiring the data-security startup Own for $1.9 billion in cash. The deal, announced on Thursday, is expected to enhance Salesforce's data management and protection solutions. Salesforce reassured shareholders that the acquisition of Own would not impact their return initiatives and would prove to be beneficial for the company's free cash flow starting in the second year post deal closure.
Own, the startup being acquired, provides data management and protection solutions, offering support for backups in Microsoft's Dynamics software, as well as Salesforce and ServiceNow. By acquiring Own, Salesforce aims to strengthen its position in the data-security market and provide enhanced services to its customers. This strategic move demonstrates Salesforce's commitment to innovation and growth in the tech sector.
In a separate development, Liberty Bank, a 199-year-old community bank, has decided to collaborate with Salesforce to elevate its customer engagement strategies. By leveraging Salesforce's expertise, Liberty Bank intends to enhance its customer experience and achieve a new level of excellence. This partnership underscores the importance of technology in improving customer satisfaction and boosting business performance in the financial services industry.
Despite its recent acquisition and partnership, Salesforce's stock performance has attracted attention from investors. While the company's latest financial report surpassed Wall Street's expectations, there are concerns about its cooling sales growth as it shifts focus towards increasing profitability. Shareholders who may have incurred losses on Salesforce, Inc. (NYSE: CRM) are advised to contact Levi & Korsinsky, a law firm specializing in securities fraud investigation, regarding potential violations of federal securities laws.
Overall, Salesforce's acquisition of Own for $1.9 billion in cash highlights the company's continued expansion efforts in the data-security market. The partnership with Liberty Bank further underscores Salesforce's commitment to enhancing customer engagement and driving business growth. As Salesforce navigates through changes in its sales strategy, investors remain cautious about the company's future performance in the evolving tech landscape.
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Salesforce Acquires Data-Security Startup Own for $1.9 Billion in Cash
By KlickAnalytics Data Insights | September 5, 2024 08:07PM ET
Key Points
- Salesforce announces the acquisition of data-security startup Own for $1.9 billion in cash
- The acquisition is expected to be accretive to free cash flow in the second year after the deal closes
- Own supports backups for Microsoft's Dynamics software, Salesforce, and ServiceNow
- Salesforce acquires Own, a provider of data management and protection solutions
- Salesforce to buy data protection provider Own Company for $1.9 billion
Salesforce, a leading cloud computing company, has made a significant move in the tech industry by acquiring the data-security startup Own for $1.9 billion in cash. The deal, announced on Thursday, is expected to enhance Salesforce's data management and protection solutions. Salesforce reassured shareholders that the acquisition of Own would not impact their return initiatives and would prove to be beneficial for the company's free cash flow starting in the second year post deal closure.
Own, the startup being acquired, provides data management and protection solutions, offering support for backups in Microsoft's Dynamics software, as well as Salesforce and ServiceNow. By acquiring Own, Salesforce aims to strengthen its position in the data-security market and provide enhanced services to its customers. This strategic move demonstrates Salesforce's commitment to innovation and growth in the tech sector.
In a separate development, Liberty Bank, a 199-year-old community bank, has decided to collaborate with Salesforce to elevate its customer engagement strategies. By leveraging Salesforce's expertise, Liberty Bank intends to enhance its customer experience and achieve a new level of excellence. This partnership underscores the importance of technology in improving customer satisfaction and boosting business performance in the financial services industry.
Despite its recent acquisition and partnership, Salesforce's stock performance has attracted attention from investors. While the company's latest financial report surpassed Wall Street's expectations, there are concerns about its cooling sales growth as it shifts focus towards increasing profitability. Shareholders who may have incurred losses on Salesforce, Inc. (NYSE: CRM) are advised to contact Levi & Korsinsky, a law firm specializing in securities fraud investigation, regarding potential violations of federal securities laws.
Overall, Salesforce's acquisition of Own for $1.9 billion in cash highlights the company's continued expansion efforts in the data-security market. The partnership with Liberty Bank further underscores Salesforce's commitment to enhancing customer engagement and driving business growth. As Salesforce navigates through changes in its sales strategy, investors remain cautious about the company's future performance in the evolving tech landscape.
For more information:
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