"Cohesity Acquires Veritas' Data Protection Unit, Creating $7B Data Security Giant"
Cohesity, a data protector and manager, has agreed to acquire Veritas' data protection business, valued at over $3 billion, in a deal expected to close by the end of 2024. The combined entity will have a reported $7 billion valuation and a $1.6 billion annual revenue run rate, making it one of the largest players in the data protection marketplace. The merger aims to combine Cohesity's innovation with Veritas' global presence and installed base, creating a comprehensive offering for customers and partners. This move represents a major reshaping of the data protection and cyber resiliency landscape, with potential for further consolidation in the industry.
