Fri Sep 06 02:32:30 UTC 2024: – Salesforce Inc. is set to acquire startup Own Co. for $1.9 billion in cash
– The deal is expected to close by the end of January 2025 pending regulatory approval
– This acquisition marks Salesforce’s first big deal since eliminating its M&A committee over two years ago
– Own’s declining value reflects challenges faced by cloud software companies in recent years
– Own has diversified its business by adding support for Microsoft Corp.’s Dynamics and ServiceNow Inc.
– Salesforce sees data protection and loss prevention as crucial for AI initiatives, prompting the acquisition of Own
– The deal is expected to be accretive to cash flow beginning in the second year after closing
– Salesforce has been making smaller acquisitions recently, such as PredictSpring Inc. and Tenyx Inc.

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