Author: Jane Edwards|| Date Published: February 8, 2024
SoftBank Group-backed data security software firm Cohesity has agreed to buy the data protection business of Veritas in a cash-and-stock transaction to form a combined entity valued at approximately $7 billion, Reuters reported Thursday.
Cohesity is a San Jose, California-based company that offers artificial intelligence-based software to help organizations manage and safeguard data from cybersecurity threats.
Cohesity CEO Sanjay Poonen said the transaction could enable the company to further drive growth and expand its market presence overseas.
The transaction is expected to be finalized by the end of 2024 and one of the sources said the Veritas unit is valued at more than $3 billion, including debt.
In 2016, Veritas became majority owned by Carlyle Group after the private equity firm bought the enterprise data management company from Symantec.
Carlyle and Veritas CEO Greg Hughes will join the combined entity’s board upon the deal’s closing, according to the report
Redhawk Federal Solutions has acquired Twenty8 Technology to expand its data interoperability and artificial intelligence and machine learning engineering capabilities.…
Antenna Research Associates has appointed Jay Abendroth, a seasoned defense electronics executive, as chief growth officer to lead business development…
Precise Systems has appointed Michael “Mike” Risik as vice president of business development. The Lexington Park, Maryland-based company said Wednesday Risik will…
