Salesforce to acquire startup Own for $1.9 billion in cash

Salesforce plans to acquire Own Co., a startup specializing in cloud-based data backup tools, for $1.9 billion in cash. The deal, subject to regulatory approval, is expected to close in Q1 2025. The startup, previously called OwnBackup, was valued at $3.35 billion in a 2021 funding round. Salesforce Ventures, the venture arm of the cloud software company, had invested in the company in earlier funding rounds. The acquisition marks a return to sizable deals for Salesforce after concerns were raised about profitability following previous acquisitions. The decline in Own’s value reflects a slower market for software companies.