Salesforce Acquires Israeli Cloud Backup Firm Own for $1.9 Billion, Expanding Cloud Services Portfolio

Salesforce, an American cloud-based software company founded by Marc Benioff, took another step in its cloud dominance on Monday, finalizing its $1.9 billion acquisition of Israeli cloud backup company Own, formerly OwnBackup. The deal, first announced in September, was sealed with a cash transfer.

However, the $1.9 billion is much less than the $3.35 billion valuation the firm hit in 2021 when OwnBackup completed a $240 million Series E round of investment.

Founded in 2015 by technology veterans with deep experience in data recovery, data protection and information security, by Ariel Berkman, Ori Yankelev, Sam Gutmann, and Eran Cohen,Own offers comprehensive backup, visual compare, and fast recovery capabilities. The company states that it has helped hundreds of organizations through data loss and corruption crises.

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From humble beginnings as a backup and recovery provider in 2012, Own has grown into a trusted data platform partner for nearly 7,000 customers. Backed by Salesforce, Own offers a comprehensive suite of data solutions, including archiving, seeding, security, and analytics. By ensuring data availability, compliance, and security, Own helps organizations unlock the power of their data to drive innovation and gain a competitive edge.

“We’re excited to join forces with Salesforce, a company that shares our commitment to data resilience and security,” said Sam Gutmann, Own CEO, when the deal was first announced in September. “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.”

Salesforce is an American cloud-based software company headquartered in San Francisco, California. It is the world’s #1 provider of customer relationship management (CRM) software.

Salesforce offers a comprehensive suite of applications focused on sales, customer service, marketing automation, e-commerce, analytics, and application development. Their goal is to help companies connect with their customers in a whole new way. The company also offers a variety of products specifically designed for nonprofits and educational institutions, including Salesforce.org.