The global data protection and management segment is expanding rapidly due to the increasing need to secure large amounts of data, the rising threat of cyberattacks, stringent regulatory requirements, the proliferation of remote workers, and the widespread adoption of cloud services. Within this segment, Cohesity helps organizations get a handle on their enterprise data—and aims to improve their cyber and business resiliency—with its data security and management platform, which is built on zero-trust principles. The company integrates data from many sources into this platform to address data fragmentation, with the goal of eliminating data silos, reducing attack surfaces, and simplifying data management. It says this approach enhances the security, accessibility, and efficiency of enterprise data.
Cohesity uses AI and machine learning in two ways. First, AI and machine learning have been built into Cohesity’s platform from the start to help detect threats, classify large data blocks, and protect critical data and workflows. The company continually updates critical functionality including anomaly detection to identify threats, data classification for better management of sensitive data, and cyber vaulting to mitigate any attacks that do occur. Second, Cohesity employs retrieval-augmented generative (RAG) AI for its enterprise data insights assistant, Gaia.
The $7 billion combination of Cohesity with Veritas’ enterprise data protection business, expected to close by the end of 2024, represents a significant shift in the data security and management industry. When completed, this combination will create the largest data protection and management organization globally with a significantly expanded market presence, serving over 13,000 customers, including more than 85 of the Fortune 100 and nearly 70% of the Global 500. The combined entity will have projected revenues of approximately $2.0 billion in the 2025 fiscal year.
According to Sanjay Poonen, president and CEO of Cohesity, “This deal combines 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.” This report explores the background of each company, the logic behind the combination, and the likely path forward for the combined organization in a highly competitive market.
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Table of Contents
- Summary
- Cohesity Background
- Veritas Background
- Creating a Powerhouse in the Global Data Security Industry
- Cohesity Products and Services
- Compliance and Governance Features
- Expected Benefits of the Cohesity-Veritas Combination for Customers
- The Path Forward: Cohesity’s Plan for Innovation
- Strategic Alliances and Partnerships
- Competitive Industry Landscape and Challenges
- Future Growth and Development
- What Modern Data Management and Security Solutions Must Provide
Companies Cited:
- Cohesity
- Veritas
