Cohesity Acquires Veritas' Data Protection Business to Form $7B Company
February 8, 2024
Cohesity has combined with Veritas Technologies' enterprise data protection business to create a combined data-protection leader valued at roughly $7 billion. The transaction—funded by a Series H led by Haveli Investments with participation from multiple existing and new investors—scales Cohesity's AI-powered data security and management portfolio, expands workload support (including Veritas NetBackup and appliances), and positions Sanjay Poonen to lead the combined company.
- Buyers
- Cohesity, Haveli Investments, The Carlyle Group, Sequoia Capital, SoftBank Vision Fund I, Coatue, Sapphire Ventures, Dragon Fund, Premji Invest, Madrona Venture Group, Wing Venture Capital
- Targets
- Veritas' enterprise data protection business (including NetBackup, NetBackup appliances, and Alta offerings)
- Sellers
- Veritas Technologies LLC
- Industry
- Cybersecurity
- Location
- California, United States
- Transaction Type
- Divestiture
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