Salesforce acquires Israeli data company Own for $1.9 billion in cash
Salesforce acquires Israeli data company Own for $1.9 billion in cash
The company, previously known as OwnBackup, develops data protection and data management solutions. It was valued at $3.35 billion when it raised a $240 million Series E in 2021.
Salesforce announced on Thursday that it is acquiring Own Company, previously OwnBackup, for $1.9 million in cash. Own, which develops data protection and data management solutions, was founded in 2015 by Ariel Berkman, Daniel Gershuni and Eran Cohen. Own raised over $500 million from investors including Tiger Global, BlackRock, Insight Partners, Vertex Ventures and Salesforce Ventures. It was valued at $3.35 billion when it raised a $240 million Series E in August 2021. Salesforce had already owned 10% of Own prior to the deal through its investments via Salesforce Ventures, giving the company a $2.1 billion valuation in the transaction.
Own's management moved to the U.S. several years ago, while the company's R&D center remained headquartered in Israel.
“We’re excited to join forces with Salesforce, a company that shares our commitment to data resilience and security,” said Sam Gutmann, Own CEO. “As digital transformation accelerates, our mission has expanded from preventing data loss in the cloud to helping customers protect their data, unlock business insights, and accelerate AI-driven innovation. Together with Salesforce, we’ll deliver even greater value for our customers by driving innovation, securing data, and ensuring compliance in the world’s most complex and highly regulated industries.”
Own has nearly 7,000 customers using its data platform that provides data archiving, seeding, security, and analytics capabilities that help customers ensure the availability, compliance, and security of their mission-critical SaaS data. Own also helps organizations leverage their historical data to optimize decision-making and gain a competitive advantage.
“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, President and GM, Einstein 1 Platform and Unified Data Services. “This proposed transaction underscores our commitment to providing secure, end-to-end solutions that protect our customers’ most valuable data and navigate the shifting landscape of data security and compliance.”
The transaction is expected to close in the fourth quarter of Salesforce’s fiscal year 2025. Own is Salesforce’s biggest acquisition since buying Slack in 2021.
