Cohesity has announced it is now the world's largest data protection software provider following its combination with Veritas' data protection business. Serving over 12,000 customers, including a significant portion of the Fortune 100 and Global 500, the company protects hundreds of exabytes of data. This acquisition not only enhances Cohesity’s capabilities to provide broad workload support but also creates the largest partner ecosystem in the data protection industry.

The company has achieved a rapid revenue milestone, surpassing $1.5 billion annually within its first 11 years. The combined entity reported projected revenues of over $1.7 billion for the fiscal year ending July 2024, bolstered by $1.5 billion in annual recurring revenue and a 28 percent adjusted cash EBITDA margin. Cohesity's President and CEO, Sanjay Poonen, expressed confidence that the merger will allow customers to extract greater value from their data while maintaining their commitment to support existing products from both companies for the long term.

Industry experts recognize this combination as a pivotal move in the data protection landscape, with emphasis on innovation in AI-powered data management and security solutions. The merger aims to address growing needs in data security and resilience, positioning Cohesity favorably within a $40+ billion market. The deal was funded by a Series H investment round and significant backing from prominent investors including Haveli Investments.

Cohesity is set on an ambitious growth trajectory, aiming to innovate further in the fast-evolving data security sector. The company plans to leverage its enhanced capabilities to deliver advanced AI solutions and expand its global reach significantly.