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Salesforce now owns Own Company after $1.9B bargain hunt

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Acquisition of SaaS backup vendor ends mega-merger moratorium

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

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