Cohesity’s Bold Move Shakes Up Enterprise Data Protection

Rarely does one wake up to read earth-shaking news in the enterprise data protection industry. However, today represents one of those days with the announcement that Cohesity will acquire Veritas NetBackup. I mean, how often does an emerging enterprise data protection provider boldly step out to acquire an established one? Ah, never. Yet in digesting this news, I begin to see the logic behind this transaction and why this shake-up was needed.

Key Insights from Press Releases

The respective press releases on each provider’s website (Cohesity link and Veritas link) mirror one another. Some of the key insights these two identical press releases provide include:

• Cohesity intends to combine with Veritas’ data protection business (NetBackup), which will be carved out of Veritas.
• High penetration in the enterprise with 96 of the Fortune 100 and 80 percent of the Global 500.
• Will target a total addressable market of over $30 billion.
• Will have combined revenue of over $1.6 billion and over $1.3 billion annual recurring revenue.
• Remaining assets of Veritas will form a separate company called DataCo that will consist of Veritas’ InfoScale, Data Compliance, and Backup Exec businesses.

This new combined company intends to continue to invest in and advance the data protection offerings from both companies. This includes all Cohesity products and services as well as Veritas NetBackup, NetBackup appliances, and Alta data protection offerings. They also will work towards delivering an integrated solution that combines the best technology across both companies.

Read the rest of the article by following this link to DCIG's website.