Cohesity and Veritas Announce Merger to Create New Leader in Data Security and Management

Cohesity and Veritas Announce Merger to Create Data Security Powerhouse

In a groundbreaking move, Cohesity and Veritas have announced their definitive agreement to combine forces and create a new leader in data security and management. The merger will see Cohesity, a leader in AI-powered data security and management, joining forces with Veritas’ data protection business to offer customers a comprehensive, multicloud data protection portfolio.

Sanjay Poonen, currently the CEO and President of Cohesity, will lead the combined organization, with Greg Hughes, CEO of Veritas, serving as a Board member and strategic advisor. The merger aims to accelerate innovations in data security and management, offering customers a powerful, simple user experience and a high-performance hyperconverged platform.

With the rampant threat of ransomware and the increasing need for cyber resilience strategies, the combined innovations of Cohesity and Veritas are set to address these challenges directly. The new company will bring together a wealth of experience and expertise, with a global footprint and a strong partner ecosystem.

“We are deeply committed to our mission to protect the world’s data,” said Sanjay Poonen. “This deal will combine Cohesity’s speed and innovation with Veritas’ global presence and installed base. We will lead the next era of AI-powered data security and management by bringing together the best of both product portfolios.”

The merger will target a total addressable market of over $30 billion, including the data replication and protection software market estimated to be $12.2 billion in 2024. Customers can expect increased resources for technology innovation, scale to support customers worldwide, and access to best-in-class tools and services to safeguard their data.

The combination of Cohesity and Veritas is set to revolutionize the data security and management industry, offering customers unparalleled solutions to protect and manage their critical data assets. Stay tuned for more updates on this exciting merger.