Cloud Software Group has acquired Arctera, a provider of data management and protection solutions, originally formed from a merger between Veritas' Enterprise Data Protection division and Cohesity. Arctera serves thousands of customers worldwide, generating over $400 million in annual revenue. The acquisition reflects Cloud Software Group's strategy to expand its software portfolio through mergers and acquisitions targeting enterprise-focused businesses. CEO Tom Krause highlighted the importance of Arctera's offerings in data resilience, compliance, and protection for public and private sectors, emphasizing a commitment to long-term sustainability and profitability.
Cloud Software Group's acquisition of Arctera supports its strategy to enhance its software portfolio, focusing on mission-critical capabilities and long-term sustainability.
By acquiring Arctera, Cloud Software Group aims to increase its presence in data management and protection, building on a strong track record in M&A growth.
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