Softbank-backed Cohesity to buy Veritas data security unit, create $7 billion firm  | Reuters News Agency


Business & FinanceDeals

Reuters exclusively reported that 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. 

Market Impact

San Jose, California-based Cohesity’s artificial intelligence-powered software helps organizations protect and manage their data against cybersecurity threats. It is also working with Big Tech in the adoption of generative AI to search and retrieve large amounts of data. 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.

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & FinanceMergers & Acquisition

Regions: Americas

Countries: United States

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

Source link


Please enter your comment!
Please enter your name here



More like this

Crypto Regulatory Landscape: South Korea FIU Reveals 2024 Plan For Exchanges |

South Korea’s regulator, the Financial Intelligence Unit (FIU),...

Taylor Swift, Travis Kelce sing ‘Love Story’ to each other at Super Bowl afterparty

“It’s a Love Story, baby just say yes.”Fans...

A funny, spooky play about an HBCU dance troupe

Racquel and Gabby have creativity to spare. Not...

Wall Street changes its tune on this healthcare stock. Why we were always bullish

Every weekday the CNBC Investing Club with Jim...