Salesforce now owns Own Company after $1.9B bargain hunt

Having adopted Own Company's technology, Salesforce has decided to buy the SaaS data protection and data management outfit for $1.9 billion in cash.

By coughing up significantly less than the nominal $3.35 billion valuation calculated in a 2021 VC funding round, the CRM giant has ended its self-imposed abstinence from major acquisitions after it"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, Salesforce president for the Einstein 1 Platform and Unified Data Services.

The newly acquired company changed its name from OwnBackup last year. It was founded in 2012 and initially backed up customer data for the Salesforce SaaS app, later expanding to include Sage Business Cloud Financials, Veeva , nCino , Microsoft Dynamics 365 CRM and Power platform, and ServiceNow. The majority of its revenue comes from Salesforce customers.

In September that year, CEO Marc Benioff said Salesforce hired 3,300 new staff as it focused on growth and margins. ®UK health services call-handling vendor faces $7.7M fine over 2022 ransomware attackMicrosoft finds a new way to irritate Windows 11 users – a backup pop-up

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Qualcomm has reportedly been eyeing up an acquisition of Intel's chip design businessAndy built his first gaming PC at the tender age of 12, when IDE cables were a thing and high resolution wasn't. After spending over 15 years in the production industry overseeing a variety of live and recorded projects, he started writing his own PC hardware blog in the hope that people might send him things.
Source: pcgamer - 🏆 38. / 67 Read more »

Fitness giant set to take reins at The Shrewsbury Club as acquisition confirmedFitness giant David Lloyd Clubs has acquired The Shrewsbury Club, announcing plans to invest in the redevelopment of the site next year and confirming existing employees are part of their plans.
Source: ShropshireStar - 🏆 98. / 51 Read more »

HPE to pursue $4B claim against estate of Mike Lynch over Autonomy acquisitionDespite mogul's US acquittal and recent death, IT giant will follow UK fraud case to its 'conclusion'
Source: TheRegister - 🏆 67. / 61 Read more »