Microsoft has made an undisclosed equity investment in Veeam Software, reinforcing a growing partnership aimed at advancing AI-powered solutions for data protection and management, the cloud data company announced on Tuesday.
Veeam is a leader in data backup and recovery, providing businesses with robust tools to rapidly restore lost or compromised data following cyberattacks, ransomware incidents, or accidental deletions.
A key feature of its flagship product is immutable backups, which prevent malicious actors from modifying or deleting stored data, ensuring that clean, unaltered copies are always available for recovery, even in cases of ransomware encryption.
This latest move builds on Microsoft's previous investment in cybersecurity firm Rubrik in 2021, another company specializing in data protection and recovery solutions.
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The partnership with Veeam is expected to drive innovation in AI-driven data security, enabling businesses to leverage cutting-edge technology to safeguard their critical information assets.
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With Microsoft’s support, Veeam aims to expand its research and development initiatives, deepen design collaboration, and integrate Microsoft's AI services into its data protection offerings.
The company is set to enhance its capabilities in intelligent automation, predictive analytics, and AI-enhanced threat detection, further reinforcing its position in the cloud security landscape.
In December 2023, Insight Partners, Veeam’s largest shareholder, sold a $2 billion stake, valuing the company at $15 billion. This follows Insight's 2020 acquisition of Veeam for approximately $5 billion, underscoring the firm’s rapid growth and increasing market significance.
Established in 2006, Veeam has built a global customer base of over 550,000 organizations, including major enterprises such as Deloitte and Canon. As data security becomes a top priority across industries, the company continues to evolve, leveraging AI and cloud advancements to meet the demands of modern data protection and disaster recovery.
