Veeam Software, a leader in data protection and backup software, is set to acquire the American software developer Securiti.
According to insiders, the deal is worth approximately $1.8 billion, Bloomberg reports. The talks are said to be at an advanced stage and could be finalized as early as this week, although no final agreement has been reached yet. Neither Veeam nor Securiti nor owner Insight Partners wanted to comment on the reports.
Securiti, based in San Jose, California, develops software that helps companies manage data privacy, security, governance, and regulatory compliance. The company is backed by investors such as General Catalyst and Mayfield, and in 2023, it raised an additional $75 million from Capital One Ventures and Citi Ventures. This valued Securiti at $575 million at the time.
For Veeam, the potential acquisition represents a further expansion of its data security and compliance portfolio. Founded in Switzerland, the company was acquired in 2020 by US venture capital firm Insight Partners for an estimated $5 billion. Insight turned Veeam into an American company with a new management team and invested heavily in expanding its cloud services and global presence. Since then, Veeam has further strengthened its position as market leader with innovative solutions such as Veeam Backup for AWS, Microsoft 365, and Azure.
Veeam states that its software is utilized by 68 percent of the world’s 2,000 largest companies, providing solutions for data security, backup, and recovery. The company, headquartered in Kirkland, Washington, was valued at $15 billion at the end of last year after a $2 billion secondary investment round led by TPG, in which Temasek and Neuberger Berman also participated.
Expansion into data management and compliance
The potential acquisition of Securiti fits in with Veeam’s strategy to further expand its platform with integrated data management and compliance features, an area that is becoming increasingly important as companies worldwide face stricter privacy laws and growing security risks. With Securiti’s technology, Veeam would be able to offer customers a more complete package, combining data security, privacy management, and compliance in a single solution.
In June, Veeam announced a partnership with Hewlett Packard Enterprise to offer customers more resilient backup and recovery solutions. The potential acquisition of Securiti appears to be a next step in the same direction: further strengthening Veeam’s position as a global leader in cloud data management.