Data News > Post Market Movers: Salesforce Acquires Data-Security Startup Own for $1.9 Billion in Cash
- Salesforce announces acquisition of cloud startup Own Co. for $1.9 billion in cash
- Own supports backups for Microsoft's Dynamics software, Salesforce, and ServiceNow
- Acquisition would not impact shareholder return initiatives and increase free cash flow starting in the second year
- Salesforce to buy data protection provider Own Company for $1.9 billion in cash
- Liberty Bank selects Salesforce to enhance customer engagement
Salesforce, a leading cloud-based software company, has revealed plans to purchase data-security startup Own Co. for a staggering $1.9 billion in cash. The acquisition of Own, known for its data management and protection solutions, will allow Salesforce to further expand its offering in the cloud industry. Salesforce has reassured stakeholders that this move will not hinder their return on investment goals and is expected to boost free cash flow from the second year following the deal's closure.
Own, in addition to providing data management and protection solutions, offers backups for popular software like Microsoft's Dynamics, Salesforce, and ServiceNow. This acquisition will enhance Salesforce's existing services, allowing the company to provide a more comprehensive suite of solutions to its clients. With Own's expertise in data security, Salesforce aims to strengthen its position in the competitive cloud technology market.
In a bid to personalize and enhance customer engagement, Liberty Bank, a 199-year-old community bank, has selected Salesforce as its technology partner. By leveraging Salesforce's advanced customer experience solutions, Liberty Bank hopes to elevate its service delivery and usher in a new era of excellence for its customers. This strategic partnership underscores the importance of utilizing cutting-edge technology to drive customer satisfaction and loyalty in the banking sector.
Amidst these strategic moves, investors are keeping a keen eye on Salesforce's financial performance. While Salesforce's latest report exceeded Wall Street's expectations, there are indications that the company's sales growth is slowing as it shifts focus towards maximizing profits. Shareholders who have suffered losses on Salesforce, Inc. (CRM) stock are encouraged to reach out to Levi & Korsinsky, a firm specializing in securities fraud investigations. Levi & Korsinsky has initiated an investigation into possible violations of federal securities laws by Salesforce, Inc., following the release of the company's fiscal Q1 2025 financial results on May 29, 2024.
Overall, Salesforce's acquisition of Own for $1.9 billion underscores the company's commitment to expanding its data security and management capabilities. This strategic move, along with the partnership with Liberty Bank, signals Salesforce's dedication to delivering innovative solutions and enhancing customer engagement in a rapidly evolving digital landscape. As Salesforce continues to navigate the dynamics of the cloud technology market, investors, customers, and industry experts await further developments to see how these initiatives will shape the company's future trajectory.
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Post Market Movers: Salesforce Acquires Data-Security Startup Own for $1.9 Billion in Cash
By KlickAnalytics Data Insights | September 5, 2024 08:10PM ET
Key Points
- Salesforce announces acquisition of cloud startup Own Co. for $1.9 billion in cash
- Own supports backups for Microsoft's Dynamics software, Salesforce, and ServiceNow
- Acquisition would not impact shareholder return initiatives and increase free cash flow starting in the second year
- Salesforce to buy data protection provider Own Company for $1.9 billion in cash
- Liberty Bank selects Salesforce to enhance customer engagement
Salesforce, a leading cloud-based software company, has revealed plans to purchase data-security startup Own Co. for a staggering $1.9 billion in cash. The acquisition of Own, known for its data management and protection solutions, will allow Salesforce to further expand its offering in the cloud industry. Salesforce has reassured stakeholders that this move will not hinder their return on investment goals and is expected to boost free cash flow from the second year following the deal's closure.
Own, in addition to providing data management and protection solutions, offers backups for popular software like Microsoft's Dynamics, Salesforce, and ServiceNow. This acquisition will enhance Salesforce's existing services, allowing the company to provide a more comprehensive suite of solutions to its clients. With Own's expertise in data security, Salesforce aims to strengthen its position in the competitive cloud technology market.
In a bid to personalize and enhance customer engagement, Liberty Bank, a 199-year-old community bank, has selected Salesforce as its technology partner. By leveraging Salesforce's advanced customer experience solutions, Liberty Bank hopes to elevate its service delivery and usher in a new era of excellence for its customers. This strategic partnership underscores the importance of utilizing cutting-edge technology to drive customer satisfaction and loyalty in the banking sector.
Amidst these strategic moves, investors are keeping a keen eye on Salesforce's financial performance. While Salesforce's latest report exceeded Wall Street's expectations, there are indications that the company's sales growth is slowing as it shifts focus towards maximizing profits. Shareholders who have suffered losses on Salesforce, Inc. (CRM) stock are encouraged to reach out to Levi & Korsinsky, a firm specializing in securities fraud investigations. Levi & Korsinsky has initiated an investigation into possible violations of federal securities laws by Salesforce, Inc., following the release of the company's fiscal Q1 2025 financial results on May 29, 2024.
Overall, Salesforce's acquisition of Own for $1.9 billion underscores the company's commitment to expanding its data security and management capabilities. This strategic move, along with the partnership with Liberty Bank, signals Salesforce's dedication to delivering innovative solutions and enhancing customer engagement in a rapidly evolving digital landscape. As Salesforce continues to navigate the dynamics of the cloud technology market, investors, customers, and industry experts await further developments to see how these initiatives will shape the company's future trajectory.
About CRM
Salesforce, Inc. provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale. Its service offerings also comprise flexible platform that enables companies of various sizes, locations, and industries to build business apps to bring them closer to their customers with drag-and-drop tools; online learning platform that allows anyone to learn in-demand Salesforce skills; and Slack, a system of engagement. In addition, the company's service offerings include Marketing offering that enables companies to plan, personalize, and optimize one-to-one customer marketing journeys; and Commerce offering, which empowers brands to unify the customer experience across mobile, web, social, and store commerce points. Further, its service offerings comprise Tableau, an end-to-end analytics solution serving various enterprise use cases; and MuleSoft, an integration offering that allows its customers to unlock data across their enterprise. The company provides its service offering for customers in financial services, healthcare and life sciences, manufacturing, and other industries. It also offers professional services; and in-person and online courses to certify its customers and partners on architecting, administering, deploying, and developing its service offerings. The company provides its services through direct sales; and consulting firms, systems integrators, and other partners. Salesforce, Inc. was incorporated in 1999 and is headquartered in San Francisco, California.For more information:
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