Veeam wants to acquire Securiti to expand data protection

"According to insiders, the deal is worth approximately $1.8 billion, Bloomberg reports. The talks are said to be at an advanced stage and could be finalized as early as this week, although no final agreement has been reached yet. Neither Veeam nor Securiti nor owner Insight Partners wanted to comment on the reports. Securiti, based in San Jose, California, develops software that helps companies manage data privacy, security, governance, and regulatory compliance."

"For Veeam, the potential acquisition represents a further expansion of its data security and compliance portfolio. Founded in Switzerland, the company was acquired in 2020 by US venture capital firm Insight Partners for an estimated $5 billion. Insight turned Veeam into an American company with a new management team and invested heavily in expanding its cloud services and global presence. Since then, Veeam has further strengthened its position as market leader with innovative solutions such as Veeam Backup for AWS, Microsoft 365, and Azure."

"Veeam states that its software is utilized by 68 percent of the world's 2,000 largest companies, providing solutions for data security, backup, and recovery. The company, headquartered in Kirkland, Washington, was valued at $15 billion at the end of last year after a $2 billion secondary investment round led by TPG, in which Temasek and Neuberger Berman also participated."

Veeam is reportedly in advanced talks to acquire Securiti for about $1.8 billion, with a potential closing as early as this week and no final agreement yet. Securiti, based in San Jose, builds software for data privacy, security, governance, and regulatory compliance and was valued at $575 million following a 2023 funding round. Veeam was acquired by Insight Partners in 2020, later received a $2 billion secondary investment led by TPG that valued it at $15 billion, and serves 68 percent of the world’s 2,000 largest companies. The acquisition would expand Veeam’s integrated data management and compliance offerings amid stricter privacy laws and rising security risks.

Read at Techzine Global