Cloud Software Group acquired Arctera, the company behind Backup Exec, to strengthen its data management offerings. Formed from the 2022 merger of Citrix and TIBCO, CEO Tom Krause expressed this acquisition as a milestone in the company's growth strategy. Krause has a history of implementing strategies involving significant layoffs and shifting focuses towards larger enterprises. CSG intends to pursue further acquisitions of enterprise-focused software companies, aiming to deliver mission-critical solutions to both public and private sector customers. This acquisition enhances their existing software portfolio.
The Cloud Software Group has acquired data management tools vendor Arctera, the owner of Backup Exec and other data management tools.
Krause described the acquisition as 'an exciting milestone for Cloud Software Group and an important step forward in our long-term growth strategy.'
Krause added, 'We aim to acquire at-scale enterprise-focused software businesses that provide proven mission-critical capabilities and high value to public and private sector customers.'
Past acquisitions involving Krause typically see substantial layoffs, a slowdown in product development, major changes to software licenses that increase prices.
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