Salesforce Stock Is on Pace for Longest Losing Streak Since 2008. An Acquisition Isn’t Helping.

Salesforce said late Thursday it is acquiring a data-protection provider, but the news wasn’t enough to lift shares in Friday trading. The enterprise software company will acquire Own Company for about $1.9 billion in cash, net of the value of the approximately 10% of shares outstanding currently owned by Salesforce. “As digital transformation accelerates, our mission has expanded from preventing data loss in the cloud to helping customers protect their data, unlock business insights, and accelerate AI-driven innovation,” said Own CEO Sam Gutmann in the press release.