Veritas Technologies is expanding its portfolio by acquiring Globanet. The move is strategic for enterprises using platforms such as Zoom.
Veritas Technologies announced on Monday that it has acquired Globanet, a company that provides comprehensive compliance and intelligent communications solutions to enterprises, including Globanet Merge1™.
The acquisition further extends Veritas’ robust portfolio of digital compliance and governance offerings.
Data archiving products such as those marketed by Veritas and Globanet allow companies to create critical backups of business data. The solutions allow customers to retrieve if the original becomes unavailable due to an outage or ransomware.
In addition, industry regulations in certain sectors such as financial services require companies to archive sensitive records reliably.
Archiving support for multiple platforms
“By integrating Globanet’s technology into our digital compliance portfolio, we’re making it simpler for Veritas customers to find and act on more of their data, no matter where it lives,” Greg Hughes, Veritas CEO, said in a press release.
“Today’s announcement accelerates and strengthens our vision for the Veritas Enterprise Data Services Platform and improves its world-class compliance capabilities. No matter what communications and data management platform our customers use, we enable them to optimize and monitor all their content as it moves from backup to archive to discovery.”
What the deal means to Veritas
According to Veritas, the Globanet acquisition will bring the following key capabilities into their portfolio:
- Give customers visibility and enable them to act on over 80 new content sources, including Microsoft Teams, Slack, Zoom, Symphony, Bloomberg and more
- Simplify discovery and lifecycle management with richer content capture that shows archived content in a closer to native view
- Offer complete capture of Microsoft Office 365 content sources along with all other communication and file sources used by Veritas customers
- Enrich metadata with Veritas’ industry-leading classification engine across over 80 content sources
The acquisition of Globanet could put Veritas at the top of the data archiving and governance software market. Gartner Inc. ranks Veritas as the largest player by revenue as of 2019.