Veeam acquires data security company Securiti AI for $1.7bn

Data Resilience Company Vim The era of AI wants to give customers more control and security over their data.

The Kirkland, Washington-based company announced Tuesday that it has signed a definitive agreement for the acquisition Safe AIA company that gives enterprises a command center for all their data The $1.725 billion deal is a mix of cash and stock and is expected to close in the first week of December, as first reported. Bloomberg.

Security was founded in 2019 by Rehan Jalil. The company has raised more than $156 million in venture capital from investors including Mayfield, General Catalyst and Cisco Investments.

After the transaction closes, Insight Partners-owned Veeam will offer security’s data command center product alongside its existing offerings. Jalil will join Vim as President of Security and AI.

“We’ve entered a new era for data. It’s no longer just about protecting data from cyber threats and unexpected disasters; it’s also about identifying all your data, ensuring it’s transparently controlled and trusted by AI,” said Vim CEO Anand Eshwaran. Company press release.

Veeam closes a $2 billion secondary sale in December 2024 that values ​​the company at $15 billion. At this time Iswaran said, a Dr The company’s plan for 2025 was to find acquisition targets Those were complementary to the company’s data resilience business.

News of this acquisition comes Within a year of data integration in the industry As data is being bought to help companies improve their data stacks to help their clients adopt AI.

In May, Databricks acquires Neon For 1 billion dollars. Salesforce has acquired legacy cloud data management platforms Informatica after a few weeks $8 billion.

Although these transactions have become less frequent now, they seem likely to continue compared to the first half of the year In June, Sanjeev Mohan, a former Gartner analyst who now runs SanjMo, a data trends advisory firm, told TechCrunch that there would be a lot of consolidation this year.

He said customers have long been tired of using a laundry list of different data companies to build their data infrastructure stack. This data makes it even clearer that enterprises want to adopt AI.

Mohan added that any good data startup that is not acquired in this environment is likely to be too expensive.