AI Powered Data Security Cohesity Announces Merger with Veritas

February 8, 2024Client News

Gunderson Dettmer represented client Cohesity, an AI-powered data security and management platform, in connection with its entry into a definitive agreement to merge with cybersecurity company Veritas to create a combined company valued at $7 billion. Under this agreement, Cohesity will acquire Veritas’ data protection business to transform the data security industry.

In the announcement of the merger, Cohesity president and CEO Sanjay Poonen said, "This deal will combine Cohesity's speed and innovation with Veritas' global presence and installed base. We will lead the next era of AI-powered data security and management by bringing together the best of both product portfolios — Cohesity's scale-out architecture ideally suited for modern workloads and strong generative AI and security capabilities and Veritas' broad workload support and significant global footprint."

The Gunderson Dettmer deal team was led by Andy Bradley and included Sogoal Salari, Stephanie Lane, Andrew Person, Brenden Glapion, Alexis Persson and Maddy Kerr Hyde.