Softbank-backed Cohesity to buy Veritas data security unit, create $7 billion firm  | Reuters News Agency

Business & FinanceDeals

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. 

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

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