Who Owns Veritas Technologies? A Comprehensive Guide

At pioneer-technology.com, we understand you’re looking for clarity on Who Owns Veritas Technologies. Veritas Technologies’ ownership has seen interesting shifts, and this article dives deep into answering that question, exploring the implications of these changes and offering insights into the company’s future direction in the data protection landscape. You’ll discover the key players, financial details, and strategic moves shaping Veritas, ensuring you’re well-informed about this influential tech company’s trajectory, all explained in an accessible and engaging manner. Discover the future of Data Management, Data Security and IT Resilience here.

1. What is Veritas Technologies’ Current Ownership Structure?

Veritas Technologies is currently owned by The Carlyle Group, a global investment firm. In 2016, The Carlyle Group acquired Veritas from Symantec in an $8 billion deal, marking a significant shift for the data management and protection company.

To understand the implications of this ownership, let’s delve deeper into the Carlyle Group’s influence and the strategic direction it has set for Veritas. Carlyle Group’s acquisition aimed to revitalize Veritas as an independent entity, focusing on its core strengths in data protection, availability, and insights. This independence allowed Veritas to sharpen its focus and innovate more effectively in the rapidly evolving data landscape.

1.1. The Carlyle Group’s Investment Strategy

The Carlyle Group’s strategy involves nurturing and growing its portfolio companies through strategic investments and operational improvements. According to a press release from The Carlyle Group, their investment in Veritas was driven by the belief in the company’s potential as a leader in the data management space.

Since the acquisition, Carlyle has supported Veritas in several key areas, including:

Product Innovation: Investing in research and development to enhance Veritas’ existing product portfolio and develop new solutions for emerging data challenges.
Market Expansion: Expanding Veritas’ global reach and strengthening its partnerships with cloud service providers, value-added resellers, and system integrators.
Strategic Acquisitions: Supporting Veritas in acquiring complementary technologies and businesses to broaden its capabilities and market presence.

1.2. Veritas’ Performance Under The Carlyle Group

Under The Carlyle Group’s ownership, Veritas has achieved significant milestones, including maintaining its position as a leader in the data protection market. Despite facing competition from both established players like Dell and emerging disruptors such as Cohesity and Rubrik, Veritas has continued to innovate and adapt to the changing needs of its customers.

Key highlights of Veritas’ performance include:

Strong Customer Base: Serving a large customer base, including a significant portion of the Fortune 500 companies.
Comprehensive Product Portfolio: Offering a broad range of data protection, availability, and insights solutions to address diverse customer requirements.
Strategic Partnerships: Building strong partnerships with leading technology vendors and cloud service providers to deliver integrated solutions.

1.3. The Cohesity Acquisition of Veritas’ Data Protection Business

In a significant development, Cohesity, a rapidly growing data security and management company, announced its agreement to acquire Veritas’ data protection operations. This transaction, expected to close by the end of 2024, marks a new chapter in Veritas’ history.

According to a press release from Cohesity, the combined entity will have a valuation of $7 billion and will leverage the strengths of both companies to offer enhanced data security and AI capabilities. Sanjay Poonen, CEO of Cohesity, will lead the combined company, emphasizing product innovation and customer focus.

This acquisition will enable the new entity to:

Enhance Security and AI Capabilities: Focus on enhancing security and AI capabilities to set new standards in critical areas.
Leverage a Broad User Base: Benefit from the knowledge of a broad user base across different global industries to shape more relevant and practical advancements.
Increase Revenue: The new entity will have combined revenues of more than $1.6 billion, with an annual recurring revenue of $1.3 billion.

This move is expected to make the resulting organization one of the major players in the data protection sector. The combined expertise and strengths of both companies will address the industry’s challenges more effectively.

2. What Was Veritas Before The Carlyle Group Acquisition?

Before being acquired by The Carlyle Group in 2016, Veritas Technologies was a subsidiary of Symantec, a well-known cybersecurity and software company. Symantec acquired Veritas in 2005 for approximately $13.5 billion, aiming to combine security and data management capabilities.

Under Symantec’s umbrella, Veritas operated as its data management division, providing a range of solutions focused on backup and recovery, storage management, and information governance. This integration was intended to create synergies between security and data management, offering customers a more comprehensive approach to protecting and managing their information assets.

2.1. Veritas’ Role Within Symantec

As a division of Symantec, Veritas played a crucial role in the company’s overall strategy. Veritas’ technologies complemented Symantec’s security offerings, enabling customers to protect their data from threats and ensure its availability and recoverability.

Key responsibilities of Veritas within Symantec included:

Data Protection: Developing and maintaining backup and recovery solutions to protect critical data from loss or corruption.
Storage Management: Providing tools and technologies to optimize storage utilization and manage data growth.
Information Governance: Helping organizations comply with regulatory requirements and manage information risk.

2.2. Challenges Faced Under Symantec’s Ownership

Despite the initial promise, the integration of Veritas and Symantec faced several challenges. One of the primary issues was the lack of focus on Veritas’ core business. As part of a larger security-focused organization, Veritas sometimes struggled to receive the attention and investment needed to compete effectively in the rapidly evolving data management market.

Some of the challenges included:

Lack of Focus: Veritas’ data management solutions were sometimes overshadowed by Symantec’s security offerings, leading to a lack of focus on Veritas’ core business.
Limited Investment: Insufficient investment in research and development hindered Veritas’ ability to innovate and compete effectively.
Integration Issues: Difficulties in integrating Veritas’ technologies with Symantec’s security products created complexities for customers.

2.3. The Decision to Sell Veritas

In 2015, Symantec announced its decision to sell Veritas to The Carlyle Group. This decision was driven by the recognition that Veritas could thrive as an independent company with a dedicated focus on data management.

According to Symantec’s CEO at the time, the sale of Veritas would allow Symantec to concentrate on its core security business and streamline its operations. This move was seen as a strategic decision to unlock value for both Symantec and Veritas.

3. Why Did The Carlyle Group Acquire Veritas?

The Carlyle Group’s acquisition of Veritas was a strategic move driven by several factors, including the potential for growth in the data management market and Veritas’ strong position within that market. Carlyle recognized that Veritas possessed valuable assets, including a large customer base, a comprehensive product portfolio, and a team of experienced professionals.

Moreover, Carlyle believed that Veritas could benefit from being an independent company with a dedicated focus on data management. This independence would allow Veritas to pursue its own strategic priorities, invest in innovation, and respond more effectively to customer needs.

3.1. Market Opportunity in Data Management

The data management market is experiencing significant growth, driven by the increasing volume, velocity, and variety of data. Organizations of all sizes are struggling to manage their data effectively, protect it from threats, and extract valuable insights from it.

According to a report by Gartner, global spending on data management software is projected to reach $85 billion in 2024, highlighting the immense market opportunity for companies like Veritas. This growth is fueled by trends such as:

Digital Transformation: Organizations are embracing digital technologies to improve their operations, create new business models, and enhance customer experiences.
Cloud Adoption: Companies are increasingly moving their data and applications to the cloud, creating new challenges for data management and protection.
Data Security and Compliance: Organizations are facing growing threats from cyberattacks and increasing regulatory scrutiny, making data security and compliance more critical than ever.

3.2. Veritas’ Strengths and Assets

Veritas possessed several strengths and assets that made it an attractive acquisition target for The Carlyle Group. These included:

Large Customer Base: Serving a diverse customer base across various industries, including finance, healthcare, and government.
Comprehensive Product Portfolio: Offering a broad range of data protection, availability, and insights solutions to address diverse customer requirements.
Experienced Team: A team of experienced professionals with deep expertise in data management and related technologies.
Strong Brand Recognition: A well-established brand with a reputation for quality and reliability.

3.3. Potential for Growth and Innovation

The Carlyle Group believed that Veritas had significant potential for growth and innovation as an independent company. By investing in research and development, expanding its product portfolio, and strengthening its partnerships, Veritas could capitalize on the growing market opportunity in data management.

Carlyle’s strategy involved:

Investing in Innovation: Supporting Veritas in developing new solutions for emerging data challenges, such as cloud data management, data security, and data analytics.
Expanding the Product Portfolio: Broadening Veritas’ capabilities through strategic acquisitions and partnerships.
Strengthening Partnerships: Building stronger relationships with leading technology vendors and cloud service providers to deliver integrated solutions.

4. What Are Veritas Technologies’ Main Products And Services?

Veritas Technologies offers a comprehensive suite of products and services designed to help organizations manage, protect, and gain insights from their data. These solutions address a wide range of data management challenges, including backup and recovery, storage management, information governance, and data security.

Veritas’ main products and services include:

NetBackup: A leading backup and recovery solution that protects data across diverse environments, including on-premises, cloud, and virtualized infrastructures.
Backup Exec: A simple and cost-effective backup and recovery solution designed for small and mid-sized businesses.
InfoScale: A software-defined infrastructure solution that provides high availability, disaster recovery, and storage management capabilities.
Enterprise Vault: An archiving and information governance solution that helps organizations comply with regulatory requirements and manage information risk.
Aptare IT Analytics: A data analytics platform that provides insights into IT infrastructure performance, resource utilization, and cost optimization.

4.1. NetBackup

NetBackup is Veritas’ flagship product, offering comprehensive data protection for enterprises of all sizes. It supports a wide range of platforms, applications, and storage devices, providing flexible and scalable backup and recovery capabilities.

Key features of NetBackup include:

Broad Platform Support: Protecting data across physical, virtual, and cloud environments.
Advanced Backup and Recovery: Offering advanced features such as incremental backups, deduplication, and replication.
Centralized Management: Providing a centralized console for managing backup and recovery operations.
Integration with Cloud Services: Integrating with leading cloud platforms such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP).

4.2. Backup Exec

Backup Exec is a backup and recovery solution designed for small and mid-sized businesses. It offers a simple and intuitive interface, making it easy for organizations to protect their data without requiring specialized expertise.

Key features of Backup Exec include:

Easy-to-Use Interface: A user-friendly interface that simplifies backup and recovery operations.
Comprehensive Protection: Protecting data across physical and virtual environments.
Fast Recovery: Enabling fast and reliable recovery of data in the event of a disaster.
Affordable Pricing: Offering competitive pricing to meet the budget constraints of small and mid-sized businesses.

4.3. InfoScale

InfoScale is a software-defined infrastructure solution that provides high availability, disaster recovery, and storage management capabilities. It helps organizations ensure the availability of critical applications and data, even in the face of unexpected outages or disasters.

Key features of InfoScale include:

High Availability: Providing continuous availability of applications and data through automated failover and recovery.
Disaster Recovery: Enabling rapid recovery from disasters through replication and orchestration.
Storage Management: Optimizing storage utilization and managing data growth with advanced storage management features.
Cross-Platform Support: Supporting a wide range of operating systems, databases, and applications.

4.4. Enterprise Vault

Enterprise Vault is an archiving and information governance solution that helps organizations comply with regulatory requirements and manage information risk. It enables organizations to archive and manage unstructured data, such as email, files, and social media content.

Key features of Enterprise Vault include:

Archiving: Automatically archiving unstructured data to reduce storage costs and improve performance.
Compliance: Helping organizations comply with regulatory requirements such as GDPR, HIPAA, and SOX.
eDiscovery: Providing eDiscovery capabilities to support legal and regulatory investigations.
Information Governance: Enabling organizations to manage information risk and enforce data retention policies.

4.5. Aptare IT Analytics

Aptare IT Analytics is a data analytics platform that provides insights into IT infrastructure performance, resource utilization, and cost optimization. It helps organizations make data-driven decisions to improve IT efficiency and reduce costs.

Key features of Aptare IT Analytics include:

Performance Monitoring: Monitoring the performance of IT infrastructure components such as servers, storage, and networks.
Resource Utilization: Tracking the utilization of IT resources to identify opportunities for optimization.
Cost Management: Managing IT costs by tracking spending on hardware, software, and services.
Reporting and Analytics: Providing customizable reports and dashboards to visualize IT data and identify trends.

5. How Does The Cohesity Acquisition Affect Veritas Technologies’ Product Offerings?

The acquisition of Veritas’ data protection business by Cohesity is poised to significantly impact the product offerings of both companies. The combined entity aims to leverage the strengths of each organization to deliver enhanced data security, AI-powered data management, and comprehensive data protection solutions.

According to Cohesity’s CEO, Sanjay Poonen, the acquisition will emphasize product innovation and a strong commitment to customer obsession. This suggests that the combined company will prioritize the development of new and improved products that address the evolving needs of its customers.

5.1. Integration of Cohesity and Veritas Technologies’ Products

One of the key challenges and opportunities of the acquisition will be the integration of Cohesity and Veritas’ product portfolios. While both companies offer data protection solutions, they have different strengths and areas of focus.

Veritas is known for its comprehensive data protection capabilities, particularly its flagship product, NetBackup, which supports a wide range of platforms and applications. Cohesity, on the other hand, specializes in AI-powered data security and management, offering features such as immutable backup snapshots and AI-driven threat detection.

The integration of these product portfolios could result in:

Enhanced Data Security: Combining Cohesity’s AI-driven threat detection capabilities with Veritas’ data protection solutions to provide enhanced data security.
Improved Data Management: Leveraging Cohesity’s data management capabilities to optimize storage utilization and streamline data management operations.
Expanded Platform Support: Extending the platform support of both companies to cover a wider range of environments, including on-premises, cloud, and virtualized infrastructures.

5.2. Focus on AI and Cloud Capabilities

The acquisition is expected to accelerate the development of AI and cloud capabilities within the combined company’s product offerings. Cohesity has been at the forefront of incorporating AI into its data management solutions, using it to automate tasks, detect threats, and provide valuable insights.

Veritas has also been investing in cloud capabilities, integrating its products with leading cloud platforms such as AWS, Azure, and GCP. The combined company is likely to further accelerate these efforts, offering customers a range of cloud-based data protection and management solutions.

5.3. Continued Investment in Existing Products

Despite the focus on integration and new product development, Cohesity has stated that it will continue to invest in Veritas’ existing products, including NetBackup, NetBackup Appliance, and Alta Data Protection. This suggests that the company recognizes the value of these products and is committed to supporting its existing customer base.

According to Cohesity, this continued investment will ensure that customers can continue to rely on these products for their data protection needs while also benefiting from the new innovations and integrations that result from the acquisition.

6. What are The Potential Benefits Of The Cohesity And Veritas Technologies Merger?

The merger between Cohesity and Veritas’ data protection business holds significant potential benefits for customers, partners, and the data protection industry as a whole. By combining the strengths of both companies, the merged entity aims to deliver enhanced data security, improved data management, and a more comprehensive range of solutions.

Some of the potential benefits of the merger include:

Enhanced Data Security: Combining Cohesity’s AI-driven threat detection capabilities with Veritas’ data protection solutions to provide enhanced data security.
Improved Data Management: Leveraging Cohesity’s data management capabilities to optimize storage utilization and streamline data management operations.
Expanded Product Portfolio: Offering a broader range of data protection and management solutions to address diverse customer requirements.
Increased Innovation: Accelerating the development of new and improved products through increased investment in research and development.
Stronger Customer Support: Providing stronger customer support through a larger and more experienced team of professionals.

6.1. Enhanced Data Security

One of the primary benefits of the merger is the potential for enhanced data security. Cohesity’s AI-driven threat detection capabilities can be integrated with Veritas’ data protection solutions to provide a more comprehensive approach to security.

This integration could enable organizations to:

Detect Threats More Quickly: Using AI to identify and respond to threats in real-time.
Prevent Data Breaches: Implementing proactive security measures to prevent data breaches.
Improve Compliance: Meeting regulatory requirements for data security and privacy.

6.2. Improved Data Management

The merger also offers the potential for improved data management. Cohesity’s data management capabilities can be leveraged to optimize storage utilization, streamline data management operations, and reduce costs.

This could enable organizations to:

Reduce Storage Costs: Optimizing storage utilization and reducing the need for additional storage capacity.
Streamline Data Management Operations: Automating data management tasks and reducing the burden on IT staff.
Improve Data Insights: Gaining valuable insights from data through advanced analytics and reporting.

6.3. Expanded Product Portfolio

The merged entity will offer a broader range of data protection and management solutions, addressing diverse customer requirements. This expanded product portfolio will provide customers with more choices and flexibility, allowing them to select the solutions that best meet their needs.

The expanded product portfolio could include:

Comprehensive Data Protection: Protecting data across diverse environments, including on-premises, cloud, and virtualized infrastructures.
AI-Powered Data Management: Leveraging AI to automate tasks, detect threats, and provide valuable insights.
Cloud-Based Data Protection: Offering a range of cloud-based data protection and management solutions.

6.4. Increased Innovation

The merger is expected to accelerate the development of new and improved products through increased investment in research and development. By combining the expertise and resources of both companies, the merged entity will be able to innovate more quickly and effectively.

This increased innovation could lead to:

New Products and Features: Developing new products and features that address emerging data challenges.
Improved Performance: Enhancing the performance and scalability of existing products.
Better Integration: Improving the integration of products across the portfolio.

6.5. Stronger Customer Support

The merged entity will provide stronger customer support through a larger and more experienced team of professionals. This expanded team will be able to provide customers with more timely and effective support, helping them resolve issues quickly and efficiently.

This stronger customer support could include:

24/7 Support: Providing round-the-clock support to customers around the world.
Expert Assistance: Offering access to experienced professionals with deep expertise in data protection and management.
Proactive Support: Providing proactive support to help customers prevent issues before they occur.

7. What Challenges Might Arise From The Combination of Cohesity and Veritas Technologies?

While the merger between Cohesity and Veritas’ data protection business offers significant potential benefits, it also presents several challenges that the combined company will need to address. These challenges include integrating different cultures, rationalizing product portfolios, and managing customer expectations.

Some of the potential challenges of the merger include:

Integrating Different Cultures: Combining two different organizational cultures can be challenging, as employees may have different values, work styles, and communication preferences.
Rationalizing Product Portfolios: The merged entity will need to rationalize its product portfolios, deciding which products to continue to invest in and which to sunset.
Managing Customer Expectations: Customers of both companies will have high expectations for the merger, and the combined entity will need to manage these expectations effectively.
Technological Integrations: Integrating the technologies of both companies.
Decreased Competition: Less competition in the market may lead to variability in pricing.

7.1. Integrating Different Cultures

Integrating different organizational cultures can be a significant challenge in any merger or acquisition. Cohesity and Veritas have distinct cultures, and the combined company will need to find ways to blend these cultures effectively.

Some of the cultural differences that may need to be addressed include:

Values: Cohesity may prioritize innovation and agility, while Veritas may emphasize stability and reliability.
Work Styles: Cohesity may have a more collaborative and decentralized work style, while Veritas may have a more hierarchical and structured approach.
Communication Preferences: Employees from Cohesity and Veritas may have different communication preferences, which could lead to misunderstandings and miscommunication.

To address these cultural differences, the combined company will need to:

Communicate Openly: Communicate openly and transparently about the merger and its impact on employees.
Establish Shared Values: Establish a set of shared values that reflect the best aspects of both cultures.
Provide Training: Provide training to help employees understand and adapt to the new culture.

7.2. Rationalizing Product Portfolios

The merged entity will need to rationalize its product portfolios, deciding which products to continue to invest in and which to sunset. This can be a difficult decision, as it may involve discontinuing products that are popular with some customers.

Some of the factors that the company will need to consider when rationalizing its product portfolios include:

Market Demand: The level of demand for each product in the market.
Competitive Landscape: The competitive landscape for each product.
Technical Overlap: The degree of technical overlap between products.
Customer Feedback: Feedback from customers about their product preferences.

To minimize disruption to customers, the company will need to:

Communicate Clearly: Communicate clearly about its product roadmap and the reasons for any product discontinuations.
Provide Migration Paths: Provide migration paths to alternative products for customers who are affected by product discontinuations.
Offer Support: Offer support to customers who are migrating to new products.

7.3. Managing Customer Expectations

Customers of both Cohesity and Veritas will have high expectations for the merger, and the combined entity will need to manage these expectations effectively. Customers will expect the merger to result in improved products, better support, and more competitive pricing.

To manage customer expectations, the company will need to:

Communicate Regularly: Communicate regularly with customers about the progress of the merger and its impact on them.
Solicit Feedback: Solicit feedback from customers about their needs and concerns.
Deliver on Promises: Deliver on its promises to improve products, support, and pricing.

8. Who Are The Key Competitors Of Veritas Technologies?

Veritas Technologies operates in a competitive market, facing competition from both established players and emerging disruptors. These competitors offer a range of data protection, data management, and data security solutions, challenging Veritas’ market position.

Some of the key competitors of Veritas Technologies include:

Dell Technologies: Dell Technologies offers a comprehensive portfolio of data protection solutions, including hardware, software, and services.
Commvault: Commvault is a leading provider of data protection and information management solutions.
IBM: IBM offers a range of data protection and data management solutions, including hardware, software, and services.
Veeam: Veeam specializes in data protection and availability solutions for virtualized environments.
Rubrik: Rubrik is a rapidly growing company that offers a cloud data management platform for data protection, security, and compliance.
HYCU: HYCU is a provider of data protection solutions for multi-cloud environments.
Druva: Druva offers a cloud-based data protection and data management platform.

8.1. Dell Technologies

Dell Technologies is a major player in the data protection market, offering a comprehensive portfolio of solutions that includes hardware, software, and services. Dell’s data protection solutions are designed to protect data across diverse environments, including on-premises, cloud, and virtualized infrastructures.

Dell’s key data protection products include:

PowerProtect: A family of data protection appliances and software that provide backup, recovery, and replication capabilities.
Data Domain: A deduplication storage system that reduces storage costs and improves backup performance.
Avamar: A software-defined data protection solution that provides backup and recovery for virtualized environments.

8.2. Commvault

Commvault is a leading provider of data protection and information management solutions. Commvault’s solutions are designed to help organizations manage, protect, and recover their data across diverse environments.

Commvault’s key products include:

Commvault Data Platform: A unified platform for data protection, data management, and data analytics.
Commvault Backup & Recovery: A backup and recovery solution that protects data across physical, virtual, and cloud environments.
Commvault Disaster Recovery: A disaster recovery solution that enables organizations to quickly recover from disasters.

8.3. IBM

IBM offers a range of data protection and data management solutions, including hardware, software, and services. IBM’s solutions are designed to help organizations manage, protect, and gain insights from their data.

IBM’s key data protection products include:

IBM Spectrum Protect: A data protection solution that provides backup, recovery, and archive capabilities.
IBM Spectrum Copy Data Management: A solution that helps organizations manage and automate the creation and use of copy data.
IBM Cloud Object Storage: A cloud storage service that provides secure and scalable storage for unstructured data.

8.4. Veeam

Veeam specializes in data protection and availability solutions for virtualized environments. Veeam’s solutions are designed to help organizations protect their virtual machines and ensure their availability.

Veeam’s key products include:

Veeam Backup & Replication: A backup and replication solution for VMware vSphere and Microsoft Hyper-V environments.
Veeam Availability Suite: A suite of products that provide data protection, disaster recovery, and monitoring capabilities.
Veeam Cloud Connect: A service that enables organizations to back up and replicate their data to the cloud.

8.5. Rubrik

Rubrik is a rapidly growing company that offers a cloud data management platform for data protection, security, and compliance. Rubrik’s platform is designed to simplify data management and provide organizations with a unified view of their data.

Rubrik’s key products include:

Rubrik Cloud Data Management: A cloud data management platform that provides data protection, security, and compliance capabilities.
Rubrik Polaris: A SaaS platform that provides visibility and control over data across hybrid cloud environments.
Rubrik Mosaic: A platform for building and running data-intensive applications.

9. What Is The Future Outlook For Veritas Technologies?

The future outlook for Veritas Technologies is closely tied to the successful integration with Cohesity and the ability of the combined entity to capitalize on the growing market opportunity in data protection and management. The acquisition is expected to bring together the strengths of both companies, creating a more competitive and innovative organization.

Key factors that will shape the future of Veritas Technologies include:

Successful Integration with Cohesity: The ability to integrate the cultures, products, and technologies of both companies.
Market Trends: The ability to adapt to changing market trends, such as the increasing adoption of cloud computing and the growing threat of cyberattacks.
Competitive Landscape: The ability to compete effectively with established players and emerging disruptors in the data protection market.
Innovation: The ability to innovate and develop new solutions that address the evolving needs of customers.

9.1. Impact of The Cohesity Acquisition

The acquisition of Veritas’ data protection business by Cohesity is expected to have a significant impact on the future of Veritas Technologies. The combined entity will have a larger customer base, a broader product portfolio, and a stronger financial position.

The acquisition is expected to:

Enhance Competitiveness: By combining the strengths of both companies, the merged entity will be more competitive in the data protection market.
Drive Innovation: Increased investment in research and development will lead to the development of new and improved products.
Expand Market Reach: The merged entity will have a larger customer base and a broader geographic reach.

9.2. Adaptation to Market Trends

The data protection market is constantly evolving, driven by trends such as the increasing adoption of cloud computing, the growing threat of cyberattacks, and the increasing volume, velocity, and variety of data. Veritas Technologies will need to adapt to these trends to remain competitive.

Key market trends that Veritas Technologies will need to address include:

Cloud Computing: The increasing adoption of cloud computing is creating new challenges and opportunities for data protection.
Cybersecurity: The growing threat of cyberattacks is making data security more critical than ever.
Data Growth: The increasing volume, velocity, and variety of data is making data management more complex.

9.3. Focus on Innovation

Innovation will be critical to the future success of Veritas Technologies. The company will need to continue to invest in research and development to develop new solutions that address the evolving needs of its customers.

Key areas of innovation for Veritas Technologies include:

AI-Powered Data Management: Leveraging AI to automate tasks, detect threats, and provide valuable insights.
Cloud-Based Data Protection: Offering a range of cloud-based data protection and management solutions.
Data Security: Developing new solutions to protect data from cyberattacks and other threats.

10. What Are Some Recent Developments And News Concerning Veritas Technologies?

Staying updated with the latest developments and news concerning Veritas Technologies provides valuable insights into its strategic direction, product innovations, and market performance. Recent news highlights the company’s efforts to strengthen its position in the data protection and management landscape.

Recent developments and news concerning Veritas Technologies include:

Cohesity Acquisition of Veritas’ Data Protection Business: The most significant recent development is the agreement for Cohesity to acquire Veritas’ data protection business.
New Product Releases and Updates: Veritas continues to release new products and updates to its existing products, addressing the evolving needs of its customers.
Partnerships and Alliances: Veritas has been actively forming partnerships and alliances with other technology vendors to deliver integrated solutions.
Industry Recognition: Veritas has received industry recognition for its products and services, highlighting its leadership in the data protection market.

10.1. Cohesity Acquisition of Veritas’ Data Protection Business

The acquisition of Veritas’ data protection business by Cohesity is the most significant recent development concerning Veritas Technologies. This transaction is expected to close by the end of 2024 and will create a combined entity with a valuation of $7 billion.

The acquisition is expected to:

Enhance Data Security: By combining Cohesity’s AI-driven threat detection capabilities with Veritas’ data protection solutions.
Improve Data Management: By leveraging Cohesity’s data management capabilities to optimize storage utilization and streamline data management operations.
Expand Product Portfolio: By offering a broader range of data protection and management solutions.

10.2. New Product Releases and Updates

Veritas continues to release new products and updates to its existing products, addressing the evolving needs of its customers. These new releases and updates often include new features, improved performance, and enhanced security.

Recent product releases and updates include:

NetBackup 9.1: The latest version of Veritas’ flagship data protection solution, offering new features such as improved cloud integration and enhanced security.
Backup Exec 21.2: The latest version of Veritas’ backup and recovery solution for small and mid-sized businesses, offering new features such as ransomware protection and improved performance.
InfoScale 8.0: The latest version of Veritas’ software-defined infrastructure solution, offering new features such as improved high availability and disaster recovery.

10.3. Partnerships and Alliances

Veritas has been actively forming partnerships and alliances with other technology vendors to deliver integrated solutions. These partnerships and alliances enable Veritas to offer its customers a broader range of solutions and services.

Recent partnerships and alliances include:

Partnership with Microsoft: Veritas has partnered with Microsoft to offer data protection solutions for Microsoft Azure.
Partnership with Amazon Web Services (AWS): Veritas has partnered with AWS to offer data protection solutions for AWS.
Alliance with VMware: Veritas has formed an alliance with VMware to offer data protection solutions for VMware environments.

10.4. Industry Recognition

Veritas has received industry recognition for its products and services, highlighting its leadership in the data protection market. This recognition comes from industry analysts, media outlets, and customer surveys.

Recent industry recognition includes:

Leader in the Gartner Magic Quadrant for Data Center Backup and Recovery Solutions: Gartner has recognized Veritas as a leader in the Magic Quadrant for Data Center Backup and Recovery Solutions for several consecutive years.
Top Rated Vendor in the TrustRadius Data Backup and Recovery Software Category: TrustRadius has recognized Veritas as a top-rated vendor in the Data Backup and Recovery Software category based on customer reviews.
Customer Choice Award Winner in the Gartner Peer Insights Customers’ Choice for Data Center Backup and Recovery Solutions: Gartner Peer Insights has recognized Veritas as a Customer Choice Award winner in the Data Center Backup and Recovery Solutions category based on customer feedback.

FAQ: Who Owns Veritas Technologies?

To provide further clarity, here are some frequently asked questions about the ownership and related aspects of Veritas Technologies:

1. Who currently owns Veritas Technologies?

Veritas Technologies is currently owned by The Carlyle Group.

2. When did The Carlyle Group acquire Veritas Technologies?

The Carlyle Group acquired Veritas Technologies in 2016.

3. How much did The Carlyle Group pay for Veritas Technologies?

The Carlyle Group acquired Veritas Technologies for $8 billion.

4. Was Veritas Technologies previously owned by another company?

Yes, Veritas Technologies was previously owned by Symantec.

5. Why did Symantec sell Veritas Technologies?

Symantec sold Veritas Technologies to focus on its core security business.

6. What is the future of Veritas Technologies under The Carlyle Group’s ownership?

The future of Veritas Technologies involves continued innovation and growth in the data management and protection market.

7. How does the Cohesity acquisition affect Veritas Technologies’ ownership?

Cohesity is acquiring Veritas’ data protection business, which will result in a combined entity under Cohesity’s leadership. The Carlyle Group will no longer be the sole owner of Veritas’ data protection assets.

8. What are Veritas Technologies’ main products and services?

Veritas Technologies’ main products and services include NetBackup, Backup Exec, InfoScale, and Enterprise Vault.

9. Who are the key competitors of Veritas Technologies?

Key competitors of Veritas Technologies include Dell Technologies, Commvault, IBM, Veeam, and Rubrik.

10. How can I stay updated on the latest news about Veritas Technologies?

You can stay updated on the latest news about Veritas Technologies by visiting the company’s website, following industry news outlets, and subscribing to relevant newsletters.

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