 "Salesforce plans to acquire Own Company for .9 billion, enhancing data security amid rising cyber threats as it seeks growth.")
Salesforce has announced its acquisition of Own Company, a data protection and management solutions provider, for $1.9 billion in cash. This move aims to enhance Salesforce’s data security and privacy offerings, especially as customers prioritize safeguarding their data from loss and cyber threats. The company expects this deal to contribute positively to free cash flow starting in the second year after closing, which is anticipated in the fourth quarter of fiscal 2025. Importantly, Salesforce confirmed that this acquisition will not alter its fiscal year 2025 forecast or affect its capital return program. The firm is also in the process of acquiring Tenyx, a company focused on AI-driven voice technology.
Salesforce Inc. has announced its plans to acquire Own Company, a data protection and management provider, for $1.9 billion in cash. This move aims to enhance the company’s offerings in data security and privacy solutions. As businesses increasingly prioritize data protection amidst the rising threat of cyberattacks, Salesforce’s acquisition comes at a crucial time.
The company is optimistic about the financial impact of this acquisition, expecting positive cash flow growth by the second year after finalizing the deal, which is anticipated to close in the fourth quarter of fiscal year 2025. Notably, Salesforce confirmed that this acquisition will not alter its forecast for fiscal year 2025 or affect its capital return program.
Own Company, which has secured over $500 million in funding from notable investors like BlackRock and Tiger Global, has established partnerships with major players such as ServiceNow and Microsoft Dynamics 365. Additionally, Salesforce recently revealed its plans to acquire Tenyx, a firm specializing in AI-powered voice agents, signaling a commitment to enhancing its AI-driven solutions.
This acquisition strategy marks a shift for Salesforce, which previously faced pressure from activist investors to focus on share buybacks and reduce its acquisition activities. Now, the California-based firm is exploring new acquisitions to reignite its revenue growth.
Tags: Salesforce, data protection, acquisition, Own Company, Tenyx, AI solutions, cybersecurity, fiscal year 2025, business news.
What company did Salesforce buy?
Salesforce bought a data protection provider called Own Company.
How much did Salesforce pay for Own Company?
They paid $1.9 billion for the purchase.
Why did Salesforce buy Own Company?
Salesforce wanted to strengthen its data protection services and improve customer trust.
Will Own Company keep its name after the purchase?
It’s not clear yet if Own Company will keep its name or be rebranded under Salesforce.
How will this affect Salesforce customers?
Customers can expect better data security and protection features in Salesforce products.
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