How important is data protection and data management these days? It’s important enough that Salesforce recently announced it acquired Own Company, a leading provider of data protection and data management solutions, for $1.9 billion in cash.

What motivated Salesforce to make the purchase? “Data security has never been more critical, and Own’s proven expertise and products will enhance our ability to offer robust data protection and management solutions to our customers,” said Steve Fisher, President and GM of Salesforce’s Einstein 1 Platform and Unified Data Services.

“This proposed transaction underscores our commitment to providing secure, end-to-end solutions that protect our customers’ most valuable data and navigate the shifting landscape of data security and compliance,” said Fisher.

Data protection is a top priority

The Own Data Platform delivers a range of features, including data archiving, security, seeding and analytics. It empowers customers to maintain the accessibility, compliance and protection of their critical SaaS data.

This acquisition arrives as customers increasingly want to safeguard against data loss caused by system disruptions, user mistakes and cyber threats. Furthermore, the rise of AI technologies has heightened awareness around data protection and access management. By investing in cloud-native security solutions, Salesforce aims to enhance its Platform Data Security, Privacy and Compliance offerings.

Clearly, Salesforce understands that data protection solutions not only protect the company from risk but also create environments where stakeholders feel confident and secure in their business dealings. And Salesforce isn’t the only one addressing data protection. According to the 2024 IBM Cost of a Data Breach report, many organizations (34% of those surveyed) are actively planning to invest in data security and protection tools.

Growing cybersecurity market activity

Mergers and acquisitions (M&A) in the cybersecurity market have experienced a significant volume boost in 2024. Following 2023, which saw an 18.8% year-over-year (YOY) decline in cybersecurity transactions, M&A activity has risen 13.6% YOY as of July. This rebound in dealmaking comes from both a rising rate of critical cyberattacks and continued integration of artificial intelligence and machine learning (ML) technology into the product suites of sector players.

More recently, Mastercard announced on September 12 that it expanded its cybersecurity services with an agreement to acquire global threat intelligence company Recorded Future from Insight Partners for $2.65 billion. As per Mastercard, “The need for a holistic and global cyber defense has never been greater. As new technologies are introduced and adopted, there is a rising risk of cyber threats. In 2024 alone, cyber crime is projected to cost $9.2 trillion globally.”

Data protection is more important than ever

As an organization’s data footprint expands across various cloud providers, SaaS applications and endpoints, the risk of a data breach also increases. Cyber criminals and hackers continuously seek to exploit vulnerabilities to access sensitive data that is spread across multiple cloud data centers and data stores.

Data protection solutions, like IBM Guardium, are essential for organizations to ensure legal compliance, safeguard customer privacy and protect their reputation. It helps avoid fines, financial losses and operational disruptions from data breaches. Strong data security builds trust with customers, maintains business continuity and safeguards intellectual property — all of which provide a competitive edge for any business.

With data breaches costing organizations around the world millions of dollars on average, it’s essential to gain full visibility into both structured and unstructured data repositories. Knowing their locations, who has access, what requires encryption, how the data moves and where misconfigurations might exist is crucial. These core practices form the foundation for building a strong data security posture.