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Cohesity Acquires Veritas' Data Protection Division in a $7 Billion Deal to Boost Growth and AI Innovation

U.S.-based data security software company Cohesity has announced, according to Reuters, its agreement to purchase the data protection division of Veritas. This transaction places the value of the amalgamated entity at $7 billion. The acquisition, comprising both cash and stock, is anticipated to bolster Cohesity's financial performance, enabling it to achieve positive growth margins and to venture into new international markets. Cohesity's CEO, Sanjay Poonen, remarked in an interview that this merger combines Cohesity's rapid growth with Veritas' profitability, resulting in a synergistic entity focused on profitable growth and innovation in artificial intelligence (AI).

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