Reuters exclusively reported that U.S. data security software firm Cohesity told Reuters on Wednesday it has agreed to acquire Veritas’ data protection business in a deal that values the combined entity at $7 billion.
Business & FinanceDeals
Softbank-backed Cohesity to buy Veritas data security unit, create $7 billion firm
08 February 2024, 12:50 pm 1 minute
Market Impact
San Jose, California-based Cohesity’s artificial intelligence-powered software helps organizations protect and manage their data against cybersecurity threats. It is also working with Big Tech in the adoption of generative AI to search and retrieve large amounts of data. The deal comes at a time when Cohesity’s biggest competitor Rubrik is, according to sources, planning to launch a stock market flotation in the coming weeks.
Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & FinanceMergers & Acquisition
Regions: Americas
Countries: United States
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
