Summary by Moomoo AI
On September 5, 2024, Salesforce, Inc. announced the signing of a definitive agreement to acquire Own Data Company Ltd. for approximately $1.9 billion in cash. The acquisition, which is expected to close in the fourth quarter of Salesforce’s fiscal year 2025, aims to enhance Salesforce's data protection and management solutions. Own Data Company, a Salesforce AppExchange partner since 2012, is trusted by nearly 7,000 customers to secure mission-critical data. The acquisition will not affect Salesforce’s fiscal year 2025 financial guidance or its capital return program. The transaction is subject to customary closing conditions, including regulatory approvals. Salesforce expects the acquisition to be accretive to its free cash flow starting in the second year post-closing.