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Salesforce to acquire Own for $1.9 billion in cash

5 September 2024
in Business
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Salesforce to acquire Own for .9 billion in cash
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During a keynote at the Dreamforce 2023 conference, Salesforce CEO Marc Benioff announced the company’s $1.9 billion cash acquisition of Own Co., a startup specializing in cloud-based data backup tools, with plans to close the deal by January 2025 pending regulatory approval. The move marks a return to significant acquisitions for Salesforce after a period of caution following scrutiny over previous expensive purchases like MuleSoft and Slack. The acquisition reflects a broader trend in the software industry of consolidation and focus on profitability amid a more challenging market landscape for cloud companies.

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