Salesforce has completed its acquisition of Own, a company specializing in data management and protection, and will lay off roughly 700 employees.

Salesforce announced a deal to purchase Own in early September 2024, paying out nearly $2 billion for the company.

“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,” Steve Fisher, President and GM, Einstein 1 Platform and Unified Data Services, said at the time. “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.”

In a post on its site, Own said Monday that the deal has been completed and the company is now part of Salesforce.

In September, we announced that Salesforce had signed a definitive agreement to acquire Own. Today, we’re thrilled to share that the deal has officially closed! Joining the Salesforce team marks a new chapter for Own, and we’re excited to continue our mission of helping customers protect, manage, and activate their SaaS data.

Today, Own provides data recovery, archiving, seeding, security, and analytics capabilities that help more than 7,000 customers ensure the availability, compliance, and security of their mission-critical SaaS data. We also help organizations leverage their historical data to optimize decision-making and fuel AI models. By joining Salesforce, we’ll be able to bring these solutions to even more organizations.

Unfortunately for some employees, Bloomberg, via Fortune, is reporting that roughly 700 jobs will be cut as part of the transition. GlobalData goes on to say that some of the layoffs will happen as early as the end of January 2025, while some will be “transitional” cuts, happening three to 12 months after the merger.