Cohesity Buys Veritas’ Data Protection Business
A Game-Changer in Data Management
Introduction: Cohesity, a leading data management company, recently announced its intent to acquire Veritas Technologies’ data protection business. This strategic move is expected to strengthen Cohesity’s position in the data protection market and provide new opportunities for growth. In this article, we will discuss the details of the acquisition, its implications, and the potential benefits for Cohesity and its customers.
Background: Cohesity is a Silicon Valley-based data management company that offers a web-scale secondary storage platform. The company’s flagship product, the Cohesity DataPlatform, provides backup, archiving, test/dev, and analytics capabilities in a single solution. Cohesity’s unique approach to data management has earned it recognition as a Gartner Cool Vendor and a Forbes Cloud 100 company.
Veritas Technologies, on the other hand, is a global leader in data protection and information management. The company’s portfolio includes backup and recovery, archiving, data replication, and data security solutions. Veritas’ data protection business, which includes its NetBackup and Backup Exec offerings, is a significant player in the market.
The Deal: According to reports, Cohesity will acquire the Veritas Data Protection Business for approximately $1.35 billion. The deal is expected to close in the second quarter of 2024, subject to customary closing conditions. Cohesity will pay $1.1 billion in cash and the remaining $250 million in Cohesity common stock.
Implications: The acquisition of Veritas’ data protection business is a significant move for Cohesity. It will expand Cohesity’s product portfolio and customer base, making it a more formidable player in the data management market. The deal will also provide Cohesity with new technologies and expertise, enabling it to offer more comprehensive data management solutions.
Benefits: The acquisition is expected to bring several benefits to Cohesity and its customers. Here are some potential advantages:
- Expanded Product Portfolio: Cohesity will gain Veritas’ NetBackup and Backup Exec offerings, which are widely used in the enterprise market. This will enable Cohesity to offer a more comprehensive suite of data management solutions.
- Larger Customer Base: Veritas has a large and diverse customer base, which Cohesity can tap into. This will provide Cohesity with new opportunities for growth and enable it to expand its reach in the market.
- New Technologies and Expertise: Veritas’ data protection business brings new technologies and expertise to Cohesity. This will enable Cohesity to offer more advanced data management solutions and improve its competitive position.
- Enhanced Data Protection Capabilities: Cohesity’s acquisition of Veritas’ data protection business will enhance its data protection capabilities. This will enable Cohesity to offer more robust and reliable data protection solutions to its customers.
Conclusion: Cohesity’s acquisition of Veritas’ data protection business is a strategic move that is expected to strengthen Cohesity’s position in the data management market. The deal will expand Cohesity’s product portfolio, customer base, and expertise, making it a more formidable player in the market. The acquisition is expected to bring several benefits to Cohesity and its customers, including enhanced data protection capabilities, a larger customer base, and new technologies and expertise. The deal is expected to close in the second quarter of 2024, subject to customary closing conditions.