--- title: "Salesforce Expands Data Security Portfolio with $1.9B Own Company Acquisition" description: "Salesforce has agreed to acquire Own Company for approximately $1.9 billion in cash, net of its existing stake in the firm. This acquisition reflects Salesforce's commitment to enhancing its data secu" type: "news" locale: "en" url: "https://longbridge.com/en/news/213655840.md" published_at: "2024-09-06T10:04:46.000Z" --- # Salesforce Expands Data Security Portfolio with $1.9B Own Company Acquisition > Salesforce has agreed to acquire Own Company for approximately $1.9 billion in cash, net of its existing stake in the firm. This acquisition reflects Salesforce's commitment to enhancing its data security and compliance solutions. The deal is set to close in Q4 FY25, will not impact FY25 guidance, and is expected to positively influence free cash flow from the second year post-closing. Additionally, Salesforce announced a quarterly dividend of $0.40 per share, payable on October 8, 2024. **Salesforce, Inc.** CRM disclosed that it has signed a definitive agreement to acquire Own Company for around $1.9 billion in cash. This amount is net of the value of the 10% of Own’s outstanding shares that Salesforce already owns. The transaction is subject to customary purchase price adjustments. Own Company helps organizations ensure the availability, security, and compliance of critical data while enabling deeper insights. The proposed transaction highlights Salesforce’s dedication to enhancing data security, privacy, and compliance across its platform. Steve Fisher, President and GM, Einstein 1 Platform and Unified Data Services said, “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.” “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.” The transaction is anticipated to close in the fourth quarter of Salesforce’s fiscal year 2025, pending customary closing conditions and regulatory approvals. Sam Gutmann, Own CEO stated, “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.” Salesforce projects that the transaction will be accretive to free cash flow beginning in the second year after closing and continuing thereafter. Additionally, the deal will not impact Salesforce’s capital return program. **Dividend**: Salesforce announced that its board of directors had declared a quarterly cash dividend of $0.40 per share, payable on October 8, 2024, to stockholders of record as of September 18, 2024. Salesforce does not expect the transaction to affect its FY25 financial guidance, as announced on August 28, 2024. This month, Salesforce finalized an agreement to acquire **Tenyx**, a company specializing in AI-driven voice agents that enhance customer service with natural, engaging conversations. The terms of the deal were not disclosed. As of July-end, Salesforce’s cash and equivalents stood at $12.6 billion. In August,Salesforce reported second-quarter revenue of $9.33 billion, beating theconsensus estimateof $9.23 billion. The enterprise cloud solutions company reported adjusted earnings of $2.56 per share, beating analyst estimates of $2.36 per share, according toBenzinga Pro. Investors can gain exposure to the stock via **iShares Expanded Tech-Software Sector ETF** IGV and **REX FANG & Innovation Equity Premium Income ETF** FEPI. **Price Action**: CRM shares closed lower by 0.63% at $246.12 on Thursday. *Photo via Shutterstock* **Read Next:** - **Wall Street On Track For Relief Rally With Nvidia Earnings In Rearview Mirror: Strategist Says Near-Term Market Trajectory May Not Hinge On Presidential Election But This** ***Disclaimer:*** *This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.* ### Related Stocks - [CRM.US - Salesforce](https://longbridge.com/en/quote/CRM.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Salesforce Targets $60 Billion Revenue By 2030: Why Analysts See Room For Margin Expansion | Salesforce Inc (NYSE:CRM) aims for $60 billion in revenue by fiscal 2030, prompting a rally in its shares. 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