Salesforce, the cloud-based software company, has announced its plans to acquire Own, a digital marketing platform, for $1.9 billion in cash. This move is a strategic one for Salesforce as it seeks to further expand its capabilities in the digital marketing space.
Own, founded in 2012, offers a range of solutions for digital marketing, including customer data management, analytics, and personalization. By acquiring Own, Salesforce will be able to enhance its own marketing cloud offerings and provide customers with a more comprehensive suite of tools for managing their digital marketing campaigns.
The acquisition of Own is just the latest in a series of strategic moves by Salesforce to strengthen its position in the competitive cloud software market. Over the past few years, Salesforce has made several high-profile acquisitions, including the purchase of Slack in 2020 for $27.7 billion and Tableau in 2019 for $15.7 billion.
Salesforce CEO Marc Benioff has stated that the acquisition of Own will help Salesforce better serve its customers and drive growth in the rapidly evolving digital marketing space. This move will also help Salesforce compete more effectively with other major players in the digital marketing industry, such as Adobe and Oracle.
The $1.9 billion cash acquisition of Own is expected to close in the second quarter of Salesforce’s fiscal year 2023. Once the acquisition is complete, Own will be integrated into Salesforce’s marketing cloud division, which is already a key revenue driver for the company.
Overall, the acquisition of Own represents a significant investment by Salesforce in its future growth and competitiveness in the digital marketing space. With this move, Salesforce is further solidifying its position as a leader in cloud-based software solutions and is poised to continue its strong growth trajectory in the years to come.