Own Co. CEO Sam Gutmann founded Intronis in 2003 and led the company for about seven years as CEO. Barracuda Networks bought Intronis in 2015.

Salesforce plans to buy data protection and management vendor Own Co. for about $1.9 billion in cash amid the customer relationship management vendor’s big investments in the emerging artificial intelligence market and growing cybersecurity threats.

The San Francisco-based CRM vendor expects to close on the Own deal in the fourth quarter of its 2025 fiscal year, according to a statement. The 2024 fiscal year ended Jan. 31.

Own–formerly known as OwnBackup and billing itself as the No. 1 cloud data protection platform for Salesforce–has about 7,000 customers today using its platform to archive data, secure it and run analytics, among other use cases.

“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,” Steve Fisher, president and general manager of Salesforce’s Einstein 1 platform and unified data services, said in the statement.

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Salesforce-Own Deal

CRN has reached out to Salesforce and Own for comment.

Fisher continued: “This proposed transaction underscores our commitment to providing secure, end-to-end solutions that protect our customers’ most valuable data and navigate the shifting landscape of data security and compliance.”

Sam Gutmann, CEO of Englewood Cliffs, N.J.-based Own, said in the statement that “we’re excited to join forces with Salesforce, a company that shares our commitment to data resilience and security.”

“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 Gutmann (pictured above), who founded Intronis in 2003 and led the company for about seven years as CEO. Barracuda Networks bought Intronis in 2015.

Own has a partner program for system integrators, resellers and other partner business models, including CRN 2024 Solution Provider 500 members SoftwareOne, Ahead and Carahsoft. Salesforce has about 12,000 partners worldwide.

The news comes just two days after Salesforce revealed it signed an agreement to buy AI-powered voice agents developer Tenyx.

The purchase of that Mountain View, Calif.-based startup–founded in 2022–is set to close in the third quarter of Salesforce’s 2025 fiscal year.

The Own acquisition should boost Salesforce’s Backup, Shield and Data Mask offerings, according to the CRM vendor.

Salesforce’s venture capital wing has previously invested in Own, which was founded in 2015.

In a Thursday report by KeyBanc, the investment firm said that it thinks Own has more than $200 million in annual recurring revenue (ARR) with about $20,000 to $30,000 in average revenue per customer (ARPC).

“Assuming 25% growth on the top line for Own, this implies a ~7.5x forward revenue multiple, a premium to the average software company at a premium growth rate,” according to the report. “We see the acquisition as a continuation of Salesforce’s emphasis on Data Cloud and the Einstein 1 Platform as Salesforce’s focus has shifted from enabling AI capabilities to making customer data accessible for AI, and now data security/storage is a more relevant part of the story.”