Stay updated with breaking news from Veritas libertas. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Analysts Robert Kramer and Patrick Moorhead explain why Cohesity s planned acquisition of Veritas, announced this week, will shake up the data protection market. ....
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. ....
Cohesity has raised about $1 billion from investors, including Haveli Investments, Premji Invest and Madrona, to help fund the transaction, one of the sources said, requesting anonymity because the companies are not disclosing financial terms. ....
US data management company Veritas is selling its data protection unit to rival Cohesity, an American data security firm backed by SoftBank, Reuters announced late Wednesday. ....