California-based data security technology provider Cohesity has revealed plans to purchase Veritas Software’s data protection unit for $7 billion, in a deal that is poised to be finalized by the latter part of this year, reports CRN. Such an acquisition which would involve the integration of Veritas NetBackup, NetBackup appliances, Aptare IT analytics, and Alta cloud data management with Cohesity’s data platform would enable Cohesity to corner the majority of the data storage and data security market, according to Cohesity President and CEO Sanjay Poonen.

Source: SC Magazine