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"Cohesity's Acquisition of Veritas Creates $7B Data Security Powerhouse"

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Source: CRN
"Cohesity's Acquisition of Veritas Creates $7B Data Security Powerhouse"
Photo: CRN
TL;DR

Cohesity, led by CEO Sanjay Poonen, has announced plans to acquire Veritas' data protection business, forming a combined organization valued at $7 billion. The merger aims to create a leading entity in the data security and management market, with a focus on AI-powered technologies. The deal is expected to close by the end of 2024, and the combined company will have annual recurring revenue of $1.3 billion. The remaining Veritas assets will transition into a separate company known as "DataCo."

Topics:businesstechnology#cohesity#data-security#merger#sanjay-poonen#technology#veritas
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  1. Cohesity To Acquire Veritas Unit, Forming $7B Data Security And Management Giant  CRN
  2. Exclusive: SoftBank-backed Cohesity to buy Veritas data security unit, create $7 billion firm  Reuters
  3. Cohesity Acquires Veritas, Commvault Predicts 'Chaos'  Channel Futures
  4. SoftBank-backed Cohesity to buy Veritas data security unit, create $7 billion firm  ETTelecom
  5. Cohesity buying Veritas' data protection unit – Blocks and Files  Blocks & Files

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