In a strategic move to enhance its data protection capabilities, Salesforce today announced plans to acquire data governance and defense services provider Own Company for $1.9 billion in cash. The acquisition strengthens Salesforce’s portfolio at a time when data security is of utmost importance due to the increasing threats of system failures, human errors, and cyberattacks.
The deal is expected to close in the fourth quarter of fiscal 2025. Salesforce, which is listed on NYSE:CRM, expects the acquisition to be positively accretive to free cash flow starting in the second year after the deal closes.
The integration of Own Company’s technologies is expected to provide Salesforce customers with advanced tools to protect their information – a fundamental aspect of digital business operations in today’s fast-paced, security-focused marketplace.
Reuters contributed to this report.
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