Salesforce, an American tech giant that specializes in offering CRM software has made it official that it will be acquiring a cloud based data security company dubbed Own Company for $1.9 billion- all in cash.
In the year 2021, Own data self-valued its business for $3.5 billion and at that time Sales Force became a 10% share holder in the firm that offers data management and protection solutions. Now, the business will be bought up by the California based company to boost its own data security and privacy related products by the end of November 2025.
Own Co. was in partnership with Salesforce for well over a decade and is now ready to transfer all its 7k customers to the customer service management software provider.
In recent years, as the world is making a quick-shift towards digitization, data security has become a priority for many businesses. This is where Own. Company excelled in its commitment in rendering data security and resilient solutions all these days. And Salesforce will be adding the newly acquired tech to its portfolio of AI based Platform Data Security and compliance solutions such as its Salesforce Backup, Salesforce Shield and Data Masking solutions.
To compliment this deal, Salesforce announced that it is soon going to acquire Tenyx, an AI powered voice based agent for an undisclosed sum. Objective is to integrate this tech into its protection and compliance related solutions for smarter responses.
Meanwhile, in related developments, Parker Harris, the CTO of Slack and co-founder of Salesforce decided to sell 800k worth company stock, as per the latest filings related to SEC.
In another news, Salesforce unveiled an internal talent marketplace dubbed ‘Career Connect’ to all its employees. This AI powered workplace connect helps employees in gaining job experience and relative training for job opportunities within the company. In parallel, the AI platform will also help in training employees and will help in nurturing their skills accordingly.
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