Softbank Group Corp.-backed Cohesity Inc. today boldly announced its intent to acquire the Veritas Technologies LLC‘s data protection business for $3 billion. The purchase will be funded one-third with equity, and the other two-thirds will be debt-financed through Haveli Investments, Premji Invest and Madrona Venture Group.
Cohesity and Microsoft recently announced they have expanded their partnership to enhance data security, threat detection, and protection against cyberattacks using artificial intelligence. The goal is to help organizations optimize cloud usage while mitigating risks in an increasingly hybrid and multicloud world.
As enterprises continue to struggle with how to protect their data in the face of growing cyberthreats, data protection budgets are increasing around the world.
That’s according to Veeam Software Inc.’s 2023 Data Protection Trends Report released this week. The provider of backup, recovery and data management solutions found that 85% of organizations worldwide expect to increase their data protection budgets by 6.5% in 2023, significantly larger than predictions from Gartner (5.1%) and IDC (5.2%), and larger than overall spending increases in other areas of information technology.