Salesforce (CRM) is expanding its ✃reach into data security by purchasing startup Own for $1.9 b🌜illion in cash.

Salesforce President Steve Fisher said the acquisition would add to Salesforce's ability “to offer robust data protection and management solutions to our customers.”

Salesforce Says Custo🐻mers ﷽Are Increasingly Focused on Data Security

The deal comes as Salesforce said “customers are increasingly focused on mitigating data loss due to system failures, human error, and cyberattacks." It noted that the advent of 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) has raised awareness of the need to ꧃protect and manage access to data.

Salesforce's 澳洲幸运5官方开奖结果体彩网:venture capital division, Salesforce Ventures, was an investor in OwnBackup, Own’s previous name, taking part in a $240 million offering in August 2021. At the time, OwnBackup announced it was valued at nearly $3.5 billion.

The transaction is expected to be completed in Salesforce’s fiscal 2025 fourth quarter, which begins later this year. The company said the acquisition is not expected to affect its full-y👍ear guidance or its capital return program. 

Salesforce shares were 1.4% lower at $242.66 in early trading Friday. They've lost close to 7% of their value so far this year.