SoftBank-backed data security software company Cohesity told Reuters that it has agreed to buy Veritas’ data protection unit in a deal that values the combined entity at $7B. “You’ve got the fastest growth on our side and the best profitably on their side, combined together to be a profitable growth machine that’s innovating with AI,” Cohesity CEO Sanjay Poonen said in an interview.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SFTBY:
- SFTBY Upcoming Earnings Report: What to Expect?
- Invitae working with advisors to prepare for bankruptcy, WSJ reports
- T-Mobile might be best telecom stock for 2024, Barron’s says
- EWJ: Japanese Stocks Look Well-Positioned for Gains in 2024
- SoftBank Group receives shares in T-Mobile worth $7.56B, Reuters says