The acquisition may allow industry veteran Veritas to keep upstart rivals at bay.
Veritas has bought HubStor, a Canadian backup and archive vendor, according to a report in storage industry watcher Block and Files. The move gives Veritas, a traditional data protection provider, an SaaS-based data protection development team, according to the report.
Simon Jelley, general manager for Veritas Backup Exec, EndPoint Protection and SaaS Protection, told Block and Files: “It’s a great union and it’s about how we bring our enterprise-data services to the cloud.”
Hubstor’s team will work in Jelley’s organisation inside Veritas. The acquisition will most likely lead to integration between Veritas software and Hubstor’s technology, according to the report.
What HubStor offers: Data Protection as a Service
Ontario-based HubStor was founded in 2015 by CEO Geoff Bourgeois and CTO Gregg Campbell. The company has grown on a completely bootstrapped basis and now boasts 21 employees.
The startup’s showcase offering is a unified backup and archive to the cloud as-a-service. The service supports Azure file and Blob storage, Box, Google Drive and VMware vSphere. HubStor’s revenue stream consists entirely of recurring subscription revenues, and those revenues are rising.
Bourgeois told Block and Files about the animating motivation behind the deal: “HubStor proved it could build a SaaS product. Veritas will take it to the next level.”
HubStor co-founders share a long history together
The HibStor co-founders are themselves veterans of the data protection industry. Bourgeois has previously worked at Iron Mountain, Mimosa and Autonomy. He has also done stints at startups as a Board member at ExchangeSavvy and a CTO at Acaveo.
HubStor co-founder Gregg Campbell was also a board member at ExchangeSavvy and Chief Architect at Acaveo. Like Bourgeois, he also spent time at Mimosa, Iron Mountain and Autonomy.
Veritas currently that faces some competition in the DPaaS arena. They could lose customers who migrate to cloud-based rivals such as Clumio, Commvault Metallic, Druva, Cohesity and Rubrik. The acquisition of HubStor is seen as a way to keep those rivals in check.
Neither party has revealed the terms of the deal, according to the report.