Salesforce has inked a definitive agreement to acquire data protection and management solutions provider, Own Company, as part of the CRM's commitment to bolstering data security, privacy, and compliance across its platform.

Own Company is trusted by nearly 7,000 customers to safeguard mission-critical data. The acquisition, valued at approximately US$1.9 billion in cash, is expected to close in the fourth quarter of Salesforce's fiscal year 2025, subject to customary closing conditions, including the receipt of required regulatory approvals.

"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 President and GM, Einstein 1 Platform and Unified Data Services at Salesforce, Steve Fisher.

Under the terms of the agreement, Salesforce will acquire Own for approximately US$1.9 billion in cash, net of the value of approximately 10% of outstanding shares currently owned by Salesforce. Own's capabilities will complement Salesforce's existing offerings, such as Salesforce Backup, Shield, and Data Mask.

"We're excited to join forces with Salesforce, a company that shares our commitment to data resilience and security. 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," said Own CEO, Sam Gutmann.

The transaction is not expected to have a significant impact on Salesforce's fiscal year 2025 financial guidance. Salesforce expects to achieve accretion on a free cash flow basis starting in the second year following the closing of the transaction and continuing thereafter.