(Reuters) -Salesforce said on Thursday it would buy Own Company, a provider of data protection and data management solutions, for $1.9 billion in cash.
The acquisition comes at a time when customers are increasingly focused on mitigating data loss due to system failures, human error, and cyberattacks.
Salesforce (NYSE:CRM) said it expects to achieve accretion on a free cash flow basis starting in the second year following the closing of the deal, which it anticipates to be in the fourth quarter of fiscal 2025.
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