Veeam Software Group GmbH today announced a definitive agreement to acquire Securiti Inc. for $1.725 billion, by far the largest purchase made by the company to date. Though Veeam has made many acquisitions under the tenure of Chief Executive Anand Eswaran (pictured), this is the first in the security market. As a data protection company, Veeam can be thought of as “security-adjacent,” but now squarely enters the artificial intelligence cybersecurity race.
As Veeam Software Group GmbH, the market leader in data resiliency, holds its annual user event VeeamON in San Diego this week, it’s on a roll, continuing to stretch its lead over the legacy vendors. Recently IDC released its Data Protection Software Tracker and Veeam grew 12%, outpacing IBM Corp.’s 5% growth and well ahead of Dell Technologies Inc. and Veritas Technologies LLC, which shrank 10% and 15%, respectively, allowing Veeam to stretch its share lead.
Veeam Software Group GmbH, the market share leader in data resilience, today announced a new $2 billion investment from several top investment firms. The Seattle-based company said its valuation now stands at $15 billion, which is about the same as the valuation of Commvault Systems Inc. and Rubrik Inc. combined. Investors in what the company calls an oversubscribed round are led by TPG, with participation from Temasek, Neuberger Berman Capital Solutions and others. Morgan Stanley managed the round.
At VeeamON 24 last week in Florida, the opening general session was kicked off by Tamecka McKay, chief information officer for the City of Fort Lauderdale, who touted the city as an economic hub with industries as diverse as aviation, technology, finance, marine, and tech — and no state tax. The city is also home to soccer phenom Lionel Messi. After introducing Veeam Inc. Chief Executive Anand Eswaran (pictured), McKay discussed her current challenges and those she faced as CIO of the Broward County Public Schools — everything from 1,000-year floods to ransomware attacks.
Veeam Inc. today announced that it has acquired incident response firm Coveware Inc. for an undisclosed price. The new offering that results from the acquisition — Coveware by Veeam — will operate independently initially, but the company will integrate elements over time. Dave Russell, vice president of strategy at Veeam, gave me a preview of the announcement.