Salesforce Inc.
Salesforce Announces Acquisition of Own Data Company Ltd.
Summary
On September 5, 2024, Salesforce, Inc. announced via Regulation FD Disclosure its agreement to acquire Own Data Company Ltd., a leading provider of data protection and data management services, for approximately $1.9 billion in cash. The acquisition aims to enhance Salesforce's data security, privacy, and compliance offerings, complementing its existing data protection products. The transaction is expected to close in the fourth quarter of Salesforce's fiscal year 2025, subject to customary closing conditions and regulatory approvals.
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About Salesforce Inc.
Salesforce Inc. is a cloud-based software company that specializes in customer relationship management (CRM) solutions. Founded in 1999, Salesforce has revolutionized how businesses engage with their customers through its comprehensive suite of applications designed to improve sales, service, marketing, and commerce interactions. The platform enables organizations to automate processes, streamline operations, and enhance customer satisfactions by providing a single, integrated view of customer data. With functionalities extending to analytics, artificial intelligence, and cloud integration, Salesforce serves a variety of industries including retail, healthcare, finance, and technology. Headquartered in San Francisco, California, the company is renowned for its versatile and scalable solutions that cater to businesses of all sizes, from small startups to large enterprises. As a leading player in the SaaS market, Salesforce has significantly influenced the digital transformation era by empowering companies to leverage cloud computing for improved business agility and customer insights.
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