Cohesity Acquires Veritas’ Data Protection Business in a Consolidation Deal Worth $7 Billion, Amplifying Digital Resilience and Augmenting Operational Efficacy

Cohesity, the data security management system provider, has announced the acquisition of Veritas’ data security business. The estimated value of this post-merger venture is approximately $7 billion.

Sanjay Poonen, the CEO of Cohesity, will be leading this new business unit. Additionally, Greg Hughes, the CEO of Veritas, will join Cohesity as a board member.

Cohesity states that this deal will strengthen their storage and data security services by incorporating AI to assist organizations. They currently have a startup status with 42 Fortune 100 clients and significant investors like SoftBank.

TLDR: Cohesity has acquired Veritas’ data security business for an estimated $7 billion. Sanjay Poonen will lead the new business unit, and Greg Hughes will join Cohesity’s board. This acquisition enhances Cohesity’s storage and data security services, utilizing AI for organizational support. Cohesity is a startup with 42 Fortune 100 clients and notable investors such as SoftBank.