Veeam acquires data security company Securiti AI for $1.7B

Veeam, a leader in data resilience solutions, is taking significant steps to enhance its offerings in data security and management. The Kirkland, Washington-based firm has announced a definitive agreement to acquire Securiti AI, a company recognized for providing enterprises with a comprehensive command center for their data. This strategic move, valued at approximately $1.725 billion, will be executed through a mix of cash and stock, with the deal expected to finalize in the first week of December. Founded in 2019 by Rehan Jalil, Securiti AI has successfully raised over $156 million in venture capital from notable investors such as Mayfield, General Catalyst, and Cisco Investments. Once the acquisition is complete, Veeam plans to integrate Securiti’s innovative data command center product into its existing services. Jalil is set to join Veeam as the president of security and AI, reinforcing the company’s commitment to advancing its capabilities in these areas. Anand Eswaran, CEO of Veeam, emphasized the evolving landscape of data management, stating, "We’ve entered a new era for data. It’s no longer about just protecting data from cyber threats and unforeseen disasters; it’s about identifying all your data and ensuring it is governed and trusted to power AI transparently." This acquisition aligns with Veeam's broader strategy following a $2 billion secondary sale in December 2024, which positioned the company at a valuation of $15 billion. Eswaran indicated that identifying complementary acquisition targets would be a key initiative for the company in 2025. The announcement of this deal comes during a period of consolidation within the data industry, as companies seek to streamline their data infrastructure to better support AI adoption. Just this year, other significant acquisitions have occurred, including Databricks' purchase of Neon for $1 billion and Salesforce’s acquisition of Informatica for $8 billion. Industry experts, like former Gartner analyst Sanjeev Mohan, have noted that the demand for more cohesive data solutions is driving this trend, as enterprises are increasingly frustrated with the complexity of managing multiple data vendors.