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Veeam acquires data security company Securiti AI for $1.7B
Veeam has announced its acquisition of data security firm Securiti AI for $1.725 billion, aimed at enhancing data control and security for customers in the AI era. The deal, expected to close in December, will integrate Securiti’s data command center into Veeam’s services, with Securiti's founder joining Veeam as president of security and AI.
Key points
- Veeam's acquisition of Securiti AI is a strategic move to boost data security and control for clients amidst the rise of AI technologies.
- The deal is valued at $1.725 billion, comprising both cash and stock, and is set to close in the first week of December 2023.
- Founded in 2019, Securiti AI has raised over $156 million from venture investors such as Mayfield and Cisco Investments.
- Upon acquisition, Securiti’s offerings will complement Veeam’s existing data resilience services.
- Veeam CEO Anand Eswaran emphasized the importance of data governance and transparency in the AI age.
- The acquisition aligns with a broader industry trend towards consolidation in the data management and AI sectors.
Why it matters
- This acquisition reflects the ongoing trend of data consolidation driven by enterprises' needs to streamline data management amidst AI adoption.
- In 2024, Veeam completed a secondary sale that valued them at $15 billion, indicating strong market presence and growth focus.
- Similar acquisitions in the data sector include Databricks' purchase of Neon for $1 billion and Salesforce's acquisition of Informatica for $8 billion earlier in 2023.
- The data industry is experiencing increased consolidation to combat fragmentation and enhance operational efficiency for enterprises.
Veeam's acquisition of Securiti AI signifies a pivotal step in addressing evolving data security challenges and enhancing enterprise capabilities in a rapidly digitizing landscape, particularly as businesses increasingly integrate AI solutions.