Salesforce, an enterprise cloud company, announced on Thursday, September 5, that it will acquire startup Own Co., which specializes in developing tools for data backup in cloud-based apps.
It is currently known that the value of the mentioned deal will amount to $1.9 billion in cash. Salesforce has announced its intention to complete the implementation of the relevant business agreement in the quarter, which will end in January next year. In this case, it was noted separately that the plan will materialize if regulators grant appropriate permission.
Own was formerly known as OwnBackup. During the funding round that took place in 2021, this startup was evaluated at $3.35 billion. It is worth noting that Salesforce Ventures, a venture capital unit of a cloud software company, participated in the mentioned fundraising and also invested in earlier rounds.
Currently, Salesforce, with its declared intentions, signals its return to the area of large deals. It is worth noting that less than two years ago, the company’s chief executive officer Marc Benioff announced that the board decided to liquidate the mergers and acquisitions committee. This statement was made after activist investors bought stakes in Salesforce and updated the issue of profitability. The relevant aspect of the company’s activities became the focus of investor attention because the firm spent on expensive assets, including MuleSoft and Slack, but there was no significant growth in return.
It is worth noting that this week it also became known that Salesforce will acquire Tenyx, a developer of voice agents based on artificial intelligence.
