Salesforce said it entered into a definitive agreement to acquire Own Company Ltd. on September 5, 2024. The company said the purchase price is about $1.9 billion in cash, net of the value of the approximately 10% of outstanding shares it already owns, and subject to customary purchase price adjustments.

1. 01

   Salesforce said it entered into a definitive agreement to acquire Own Company Ltd. on September 5, 2024. The company said the purchase price is about $1.9 billion in cash, net of the value of the approximately 10% of outstanding shares it already owns, and subject to customary purchase price adjustments.

2. 02

   Own Company said it is a provider of data protection and data management solutions trusted by nearly 7,000 customers to safeguard mission-critical data. The company said Own has been a Salesforce AppExchange partner and a Salesforce Ventures portfolio company since 2012.

3. 03

   Salesforce said Own's capabilities would complement its existing products, including Salesforce Backup, Shield and Data Mask, and would enable it to offer a more comprehensive set of data protection and loss prevention products. The company also said it aims to invest more deeply in pure cloud-native data protection solutions to accelerate the growth of its Platform Data Security, Privacy, and Compliance products.

4. 04

   Salesforce said the transaction is expected to close in the fourth quarter of fiscal 2025, which ends in Q4, and is subject to customary closing conditions, including required regulatory approvals. The company said there is no expected change to its fiscal 2025 guidance announced on August 28, 2024, the transaction will not affect its capital return program, and it expects accretion on a free cash flow basis starting in the second year after closing.

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Original filing

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