Cohesity and Veritas Complete $7B Merger: Key Integration Plans Revealed
A Transformative Deal in Data Protection
Data protection leader Cohesity has officially completed its merger with Veritas’ enterprise data protection business, creating a combined entity valued at $7 billion with 12,000 customers worldwide. This strategic move consolidates two major players in the AI-powered data security and management space.
Deal Highlights:
- Valuation: Veritas’ data protection business valued at $3 billion
- Financials: Combined annual recurring revenue of $1.5 billion
- Funding: Series H round led by Haveli Investments with participation from Coatue, Sapphire Ventures, and Dragon Fund
- Ownership: Carlyle Group retains ownership of Veritas’ non-data protection assets
Strategic Rationale Behind the Merger
Cohesity CEO Sanjay Poonen explained the merger was driven by:
- Industry consolidation: Addressing market fragmentation in data protection
- Complementary strengths: Combining Cohesity’s innovation with Veritas’ global enterprise footprint
- Customer benefits: Accelerated innovation and expanded product offerings
“We’re creating more value for customers by combining forces,” Poonen stated. “This isn’t just about cost savings—it’s about delivering better solutions faster.”
Integration Roadmap: What Customers Can Expect
Product Strategy
- Branding: Veritas product names (NetBackup, Alta) will remain unchanged initially
- Market approach: Unified go-to-market strategy with cross-trained sales teams
- Geographic focus: Leveraging Veritas’ global presence to expand Cohesity’s reach
Customer Impact
- Minimal overlap: Less than 5% customer duplication between companies
- Pricing: No immediate changes planned to existing contracts
- Roadmap: Clear product integration plans to be communicated to all customers
Future Growth and Market Position
The merger positions the combined company for:
- Market leadership: Stronger competitive position in enterprise data protection
- IPO potential: Poonen acknowledges future public offering plans (no specific timeline)
- Revenue growth: Path to $2 billion annual run rate
“This is a transformative moment in our 11-year history,” Poonen emphasized. “We’re creating something truly significant in the data protection space.”
Company Backgrounds
- Cohesity: Founded in 2013, raised nearly $1B from Sequoia, SoftBank, and others
- Veritas: Originated in 1983, acquired by Carlyle Group for $8B in 2015
The merger creates one of the most significant players in the data protection industry, combining innovation with global scale to address evolving enterprise needs in data security and management.
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