NEW YORK, Feb 7 - SoftBank Group
-backed Cohesity told Reuters on Wednesday it agreed to acquire
the data protection business of information technology company
Veritas,.
U.S. data security software
firm Cohesity told Reuters on Wednesday it has agreed to acquire
Veritas s data protection business in a deal that would that
would value the combined entity at $7.
NEW YORK (Reuters) -U.S. data security software firm Cohesity told Reuters on Wednesday it has agreed to acquire Veritas's data protection business in a deal that would that would value the combined entity at $7 billion. The cash and stock acquisition is expected help Cohesity, which is backed by Japan's SoftBank Group, achieve positive growth margins, Cohesity CEO Sanjay Poonen said in an interview, adding that the firms together have $1.6 billion in annual revenue. San Jose, California-based C
NEW YORK (Reuters) -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. The cash and stock acquisition is expected to help Cohesity, which is backed by Japan's SoftBank Group, achieve positive growth margins and expand into international markets, Cohesity CEO Sanjay Poonen said in an interview, adding that the firms together have $1.6 billion in annual revenue. 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.