Salesforce to acquire startup Own for $1.9 billion in cash
Publishing timestamp: 2024-09-05 18:14:27
Summary
Salesforce announced a $1.9 billion cash acquisition of Own Co., a startup specializing in data backup tools for cloud-based applications. The deal is expected to be accretive to free cash flow starting in the second year after closing. This marks a return to sizable deals for Salesforce after a period of focusing on profitability following activist investor pressure.
Sentiment: NEUTRAL
Keywords: marc benioff, breaking news: technology, enterprise, salesforce inc, business, technology, servicenow inc, business news, microsoft corp,
Source: https://www.cnbc.com/2024/09/05/salesforce-to-acquire-own-for-1point9-billion-in-cash.html