Veritas and Cohesity have announced their final agreement, which calls for Cohesity to merge with Veritas’ data protection division—which will be separated from Veritas—to establish a new leader in data security and management. Customers will gain from the joint company’s massive R&D investment, its continuous support for customer success, and one of the largest partner ecosystems in the industry, which will speed innovations.
As both CEO and President of the merged company, Sanjay Poonen will serve as its leader. After the deal closes, Sanjay Poonen will have Greg Hughes, CEO of Veritas, as a board member and strategic advisor.
From IT professionals to board members, safeguarding global data and deriving insights from it are critical priorities. Considering how common ransomware is, every company needs to have a cyber resilience plan. Moreover, executives in technology and business today possess a singular chance to harness the potential of generative AI for data-driven insights, unleashing unprecedented levels of productivity, ingenuity, and expansion.
Cohesity and Veritas’ joint inventions will immediately address these issues by providing enterprises with a strong, user-friendly multi-cloud data protection portfolio, a high-performance, centrally-managed hyper-converged infrastructure, and an easy-to-use interface. With a wide range of product solutions to assist clients in meeting their needs for data protection and data insights, this highly complementary combination will establish a new leader in data security and management. With 96 Fortune 100 companies and 80% of the Global 500, the combined company will bring together hundreds of exabytes of protected data, a global go-to-market footprint, high enterprise penetration, and a robust partner ecosystem spanning all cloud service provider, security, VAR, system integrator, and hardware OEM segments.
“We are deeply committed to our mission to protect the world’s data. 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 – Cohesity’s scale-out architecture ideally suited for modern workloads and strong Generative AI and security capabilities and Veritas’ broad workload support and significant global footprint, particularly in the Global 500 and large public sector agencies,” said Sanjay Poonen, President and CEO of Cohesity. “This combination will be a win-win for our collective 10,000 customers and 3,000 partners, and I can’t wait to work with the Veritas team to bring our vision to life.”
Greg Hughes, CEO of Veritas, stated, “Veritas and Cohesity share a common vision of empowering businesses to protect their critical data assets in the face of evolving cyber threats and complex hybrid cloud environments. Bringing Veritas’ differentiated cloud-native architecture to Cohesity’s strong innovation engine will ideally position us to offer our customers transformative solutions against cyber-attacks while delivering the flexibility and scalability required to thrive in the multi-cloud era.”