Technology
Cohesity Becomes World’s Largest Data Protection Software Provider After Completing Combination with Veritas’ Enterprise Data Protection Business
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2 years agoon
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Cohesity Becomes #1 in Data Protection Software Market Share, Serving more than 12,000 Enterprise Customers, With Hundreds of Exabytes of the World’s Data Under ProtectionCohesity Offers One of the Broadest and Deepest Sets of Data Protection Capabilities in the Industry, Including Zero-Trust Data Security Principles and AI-Powered Data InsightsCohesity Reiterates “No Customer Left Behind” Commitment for both Veritas and Cohesity Customers While Expanding Cloud, Security, and AI CapabilitiesCohesity Becomes the Fastest Company in the Data Protection Space to Cross $1.5B+ in Annual RevenueTransaction Funded by Series H Financing Round Led by Haveli Investments and Term Loan B Facility Arranged by JP Morgan
SINGAPORE, Dec. 11, 2024 /PRNewswire/ — Cohesity, the leader in AI-powered data security, today announced the completion of its combination with Veritas’ enterprise data protection business, ushering in a new era in protecting the world’s data. Now the world’s largest data protection software provider by market share[1], Cohesity will serve over 12,000 customers – including over 85 of the Fortune 100 and nearly 70% of the Global 500 – and protect hundreds of exabytes of the world’s data. With the completion of this combination, Cohesity now offers the broadest workload support and one of the largest partner ecosystems in the data protection industry.
Cohesity has become the fastest data protection company to cross $1.5 billion in revenue, reaching that milestone in 11 years. On a pro forma adjusted basis for the fiscal year ending July 2024, the combined entity had revenue of over $1.7 billion, annual recurring revenue (ARR) of $1.5 billion, and a 28 percent adjusted cash EBITDA margin.
“This is a major milestone in the 11-year history of Cohesity, whose mission is to protect, secure, and provide insights into the world’s data,” said Sanjay Poonen, President and CEO, Cohesity. “By combining Cohesity’s scale-out architecture and strong generative AI and security capabilities with Veritas’ broad workload support and extensive global footprint, our customers and partners stand to gain more value from their data than ever. As promised, we will honor our “no customer left behind” commitment, supporting existing products from both companies for years to come. As we begin this new chapter, we are committed to driving industry-leading cyber resilience innovations to ensure we are the world’s preeminent choice for data security with differentiated AI capabilities.”
“We want to congratulate Cohesity on completing their Veritas acquisition. NVIDIA is excited to partner with Cohesity as they build their GenAI products on top of the NVIDIA AI Enterprise,” said Jensen Huang, founder and CEO of NVIDIA. “Cohesity is backing up and protecting the world’s data – a goldmine of business value that customers can unlock with GenAI.”
“Bringing together Cohesity and Veritas’ data protection business – the largest deal in the data protection space to date – addresses the growing need in the market to go beyond backing up and recovering data to handle issues around data security and insights for more robust cyber resilience,” said Daniel Newman, CEO, The Futurum Group. “Cohesity now has the largest workload support with world-class security and insight capabilities, a large presence, and a massive joint ecosystem of service providers, VARs, SI partners, and OEMs. Sitting in a unique position at the junction of multicloud, security, and AI, Cohesity is on an ambitious growth trajectory, with an experienced leader in Sanjay at the helm. We believe the company will be a key player as they expand beyond data protection, helping global CIOs exploit the potential for AI and turn organizational data into a competitive advantage.”
A New Era in Protecting the World’s Data: How the Combination Will Benefit Customers and Partners
The combination of Cohesity with Veritas’ data protection business provides:
Industry-leading Innovation and Capabilities: The combined company will offer cloud-scale and AI-powered data security and management, Generative AI-driven insights, an easy-to-use management interface, and a comprehensive multicloud data protection portfolio. Cohesity now supports the broadest range of workloads within a highly scalable modern architecture.Peace of Mind for Current Customer Investments: For years to come, Cohesity will continue to invest in and advance the roadmap and strategy for all products brought from both companies into the new combined portfolio. This includes all existing Cohesity products and services and all the Veritas solutions covered by the combination agreement, including Veritas NetBackup, Veritas NetBackup appliances, and Veritas Alta data protection offerings.Global Scale and Support: With an industry-leading Net Promoter Score and a global go-to-market footprint, Cohesity now supports a combined global, “follow-the-sun” customer success organization. Cohesity is committed to helping enterprises succeed by consistently providing positive outcomes for customers’ support experience and needs.Advanced AI Capabilities: Patent-pending, first-to-market AI capabilities offer customers tremendous data management, protection, and resiliency benefits and help them gain more significant insights and create value for the whole company from their data.Strong Partner Ecosystem: The combined company brings together one of the industry’s largest partner ecosystems, covering cloud service providers, security players, VARs, system integrators, MSPs, technology ecosystem partners, distribution partners, and hardware OEMs.
Cohesity will target a total addressable market (TAM) of $40+ billion, which includes IDC’s data replication and protection software market. IDC’s’ Semiannual Software Tracker, 2024H1, estimates the data replication and protection software market to be $12.3 billion in projected vendor sales in 2024[2]. The expanded go-to-market breadth, geographic footprint, and R&D resources will allow the combined company to accelerate new customer adoption and help drive the deployment of innovative solutions within the fast-growing data security and management segment. The transaction values the combined company at over $7 billion.
Transaction Details and Advisors
The combined company received support from current marquee investors, including Sequoia Capital, Softbank Vision Fund I, Wing Venture Capital, Premji Invest, and Madrona. The Carlyle Group, through its ownership of Veritas, is now one of the largest shareholders in the combined company.
The transaction was funded by a Series H investment round led by Haveli Investments, which provided the majority of equity in the transaction and is now one of Cohesity’s largest shareholders. Coatue, Sapphire Ventures, and Dragon Fund were also key investors in the Series H investment round. This robust backing ensures the financial and operating resources essential for propelling the company’s growth, extending its global presence, and driving continued product innovation.
“We are thrilled to lead Cohesity’s latest investment round to fund this transformative transaction,” said Brian Sheth, CIO of Haveli Investments. “This combination creates a new data protection and cyber-resiliency powerhouse. We expect the resulting scale and combined resources to accelerate product innovation, extending Cohesity’s product leadership. I look forward to serving on Cohesity’s Board of Directors and working closely with Sanjay and the management team as we focus on taking Cohesity’s business to a new level of success.”
A complete listing of Cohesity’s leadership team, including the company’s Board of Directors, can be found at: https://www.cohesity.com/company/leadership/.
J.P. Morgan Securities LLC served as Cohesity’s exclusive M&A financial advisor, and JPMorgan Chase Bank, N.A., arranged and committed financing for the transaction. BofA Securities, Inc. also served as financial advisor to Cohesity. Simpson Thacher and Bartlett LLP and Gunderson Dettmer LLP served as primary legal advisors to Cohesity. Guggenheim Securities and Morgan Stanley & Co. LLC acted as financial advisors to Veritas. Alston & Bird LLP, Latham & Watkins LLP, and Wachtell, Lipton, Rosen & Katz served as Veritas’ primary legal advisors for the transaction.
Cautionary Note Regarding Forward-Looking Statements
This press release may include statements that express Cohesity’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.” These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “seeks,” “projects,” “intends,” “plans,” “may,” “will” or “should” or, in each case, their negative or other variations or comparable terminology. They include statements regarding Cohesity’s intentions, beliefs, projections or current expectations, including statements regarding the expected benefits of the transaction, including the expected financial performance of the combined company and the benefits to customers of the combined company. If a change occurs, Cohesity’s business, financial condition, liquidity and results of operations may vary materially from those expressed in forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking statements because they are subject to a number of risks, uncertainties and other factors. Such risks and uncertainties include, among others: (i) the effect of the transaction on the ability of Cohesity to retain and hire key personnel and maintain relationships with their key business partners and customers, and others with whom they do business, or on their operating results and businesses generally; (ii) the response of competitors to the transaction; and (iii) potential litigation relating to the transaction. These factors are not necessarily all of the important factors that could cause Cohesity’s actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other unknown or unpredictable factors, many of which are beyond Cohesity’s control, also could harm the results, performance or achievements.
New factors emerge from time to time, and it is not possible for Cohesity to predict which factors will arise. In addition, Cohesity cannot assess the impact of each factor on their business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made, and Cohesity disclaims any obligation to update publicly any of these statements to reflect actual results, new information, or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If Cohesity updates one or more forward-looking statements, no inference should be drawn that Cohesity will make additional updates with respect to those or other forward-looking statements.
About Cohesity
Cohesity is the leader in AI-powered data security. Over 12,000 enterprise customers, including over 85 of the Fortune 100 and nearly 70% of the Global 500, rely on Cohesity to strengthen their resilience while providing Gen AI insights into their vast amounts of data. Formed from the combination of Cohesity with Veritas’ enterprise data protection business, the company’s solutions secure and protect data on-premises, in the cloud, and at the edge. Backed by NVIDIA, IBM, HPE, Cisco, AWS, Google Cloud, and others, Cohesity is headquartered in San Jose, CA, with offices around the globe. To learn more, follow Cohesity on LinkedIn, X, and Facebook.
Media Contact
Michael Thacker
media-relations@cohesity.com
[1] Based on industry analyst and internal data
[2] IDC’s Semiannual Software Tracker, 2024H1, Nov. 2024
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SOURCE Cohesity
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Technology
TransPerfect Legal Recognizes Its 2026 Pro Bono Partners
Published
27 minutes agoon
October 26, 2026By
Key Takeaways
Translation and interpretation services for partner firm Fenwick and legal aid organizations.Helps immigrants, asylum seekers, and other vulnerable populations access the US legal system.Language support remains critical to ensuring equal access to justice.
NEW YORK, Oct. 26, 2026
/PRNewswire/ — TransPerfect Legal, the global leader in legal technology, AI, and advisory services, today announced that in honor of the 2026 National Celebration of Pro Bono, it is recognizing the legal aid organizations and partner firms it has supported this year with translation and interpretation services. These partnerships extend legal access to immigrants, asylum seekers, and other vulnerable populations who depend on accurate language support to navigate the US legal system.
The National Celebration of Pro Bono, sponsored by the American Bar Association October 25–31, brings attention to the importance of pro bono legal services and honors the lawyers and organizations working to expand access to justice.
This year, TransPerfect provided translation and interpretation services at reduced rates to Fenwick in support of the following pro bono efforts:
Fenwick — Immigration clinics and mattersCommunity Legal Services in East Palo Alto (CLSEPA) — U Visa Project with attorneys (full-scope work); passport and asylum clinicsCo-Counsel NYC — Naturalization clinicsImmigration Institute of the Bay Area (IIBA) — Naturalization clinicsLawyers’ Committee for Civil Rights of the San Francisco Bay Area (LCCRSF) — Asylum clinicsNew York Legal Assistance Group (NYLAG) — Asylum, naturalization, and TPS clinicsTahirih Justice Center — Immigration intake and U visa clinics
The need for pro bono legal support remains significant. The Pro Bono Declaration of the Americas states that “members of the legal profession have a responsibility to provide pro bono legal services”—a responsibility the Declaration links to the profession’s broader role in society and its commitment to a fair and equitable legal system.
“Access to justice depends on access to language,” said Eric Elting, Regional Director. “When someone can’t understand the proceeding that will decide their asylum claim or their immigration status, the legal system isn’t actually open to them. That’s the gap our pro bono partners work to close every day, and we’re proud to support that work.”
TransPerfect President and Co-CEO Phil Shawe commented, “Since our humble beginnings in NYC, we are proud to have performed pro bono legal work, including work to eliminate language barriers in legal processes. These efforts continue to this day.”
About TransPerfect Legal
TransPerfect Legal is the global leader in legal technology, AI, and advisory services for Am Law 200 and Global 100 law firms as well as corporate legal departments. With offices in more than 150 cities worldwide, solutions include forensic technology and consulting, eDiscovery and early data assessment, managed review and legal staffing, language services, deposition and trial support, and paper discovery, all offered alongside the Reef Technology ecosystem, TransPerfect Legal’s suite of proprietary applications that address the needs of legal and regulatory practitioners around the world. For more information, please visit www.transperfectlegal.com.
About TransPerfect
TransPerfect is the world’s largest provider of language and AI solutions for global business. From offices in over 150 cities on six continents, TransPerfect offers a full range of services in 200+ languages to clients worldwide. More than 6,000 global organizations employ TransPerfect’s GlobalLink® technology to simplify the management of multilingual content. With an unparalleled commitment to quality and client service, TransPerfect is fully ISO 9001 and ISO 17100 certified. TransPerfect has global headquarters in New York, with regional headquarters in London and Hong Kong. For more information, please visit our website at www.transperfect.com.
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SOURCE TransPerfect
Technology
Forum Edge AI Announces $94.4 Million Definitive AI Cloud Services Compute Agreement with Fireworks
Published
27 minutes agoon
October 26, 2026By
PALM BEACH, Fla., Oct. 26, 2026 /PRNewswire/ — Forum Markets, Incorporated (“Forum” or “the Company”) (Nasdaq: FRMM), an innovator in sourcing and operating cash-generating assets in AI infrastructure, commercial aerospace and AI-powered consumer finance, today announced that Forum Edge AI LLC (“Forum Edge”), the Company’s joint venture with Edge Node Inc., has entered into a definitive agreement with Fireworks, the specialized intelligence platform, for a 36-month reservation of Nvidia B300 GPU capacity at its existing, powered data center facility in Dallas.
The agreement carries a combined total contract value of approximately $94.4 million, reflecting GPU capacity and associated CPU management node fees payable over the 36-month term. Fireworks has provided a substantial prepayment deposit, which will be credited against fees due across the term.
The GPUs are expected to be deployed at Forum Edge’s Dallas data center in late December or early January. The Dallas facility is one of the sites included in Forum’s initial AI infrastructure investment and features existing permits, power access and physical infrastructure.
“This agreement is an important proof point for our AI infrastructure strategy and reflects our focus on bringing revenue generating GPUs to market quickly in a modular manner,” said McAndrew Rudisill, chairman and chief executive officer of Forum Markets, Incorporated. “We have a strong partnership with Fireworks and are excited about our growth trajectory as we scale our AI infrastructure business. This is the first finalized contract Forum Edge is executing against and the first of several exciting partnerships we expect to deploy into our unique footprint.”
Fireworks provides inference, training, and routing that help enterprises deploy and scale generative AI applications in production. The company was most recently valued at approximately $17.5 billion, with backers including Nvidia, Atreides Management, Index Ventures and TCV. Fireworks’ scale and the caliber of its financial backers reflect the type of high-quality counterparty Forum has identified in its off-take partnerships.
Hosted AI, Inc., through its AI commercialization network/mesh and platform, facilitated the relationship between Forum Edge AI and Fireworks.
The agreement represents Forum Edge’s first contracted customer commitment and supports Forum’s broader strategy of deploying disciplined, risk-adjusted capital into cash-generating AI infrastructure assets.
About Forum Markets, Incorporated
Forum Markets, Incorporated (Nasdaq: FRMM) is an innovative company that sources and structures cash-generating assets with attractive risk-adjusted returns in aerospace, AI, and AI-powered consumer finance. The company draws on proprietary origination pipelines and strategic co-investment partnerships to scale its portfolio and generate durable operating income. Forum integrates traditional asset management principles with hands-on operational execution as it builds a new framework for how real-world assets are owned, managed, and monetized. For more information, please visit forum-markets.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the future performance and growth of the Company; the ability of the Company to execute its plans, the assets to be held by the Company, the Company’s current and anticipated yield strategies, and future performance. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond the Company’s control, and actual results may differ materially. Applicable risks and uncertainties include, among others, the risk that the proposed transactions described herein may not be completed in a timely manner or at all, including the risk that the parties do not execute definitive documentation for the joint venture or any individual project; the risk that anticipated site capacity, power availability, permitting, equipment delivery or customer contracts are delayed or not obtained; the risk that equipment financing is not available on the terms or in the amounts assumed, or at all; risks relating to the Company’s recently completed offering, including dilution to existing stockholders and the risk that the net proceeds are insufficient to fund the initial projects as contemplated or are applied to uses other than those described herein; risks associated with the Company’s guarantee obligations in support of project-level financing; failure to realize the anticipated benefits of the stock repurchase program, previously announced private placements, sale of convertible notes, and related transactions, including the Company’s ability to achieve profitable operations; the Company’s ability to repurchase shares of common stock, the timing thereof, purchase price thereof, and the fact that repurchases may not be undertaken under the stock repurchase program; fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting; government regulation of tokenized securities; risks relating to the treatment of assets for U.S. and foreign tax purposes; changes in securities laws or regulations; changes in business, market, financial, political and regulatory conditions; risks relating to the Company’s OTC transaction, including the Company’s ability to repay such facility, covenants associated therewith and security interests associated therewith; risks relating to the Company’s previously announced ATM offering, including potential downward pressure on the Company’s stock price associated therewith; risks relating to the Company’s operations and businesses; risks related to increased competition in the industries in which the Company does and will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; expectations with respect to future performance, growth and anticipated acquisitions; potential litigation involving the Company; global economic conditions; geopolitical events and regulatory changes; access to additional financing, and the potential lack of such financing; and the Company’s ability to raise funding in the future and the terms of such funding, including dilution caused thereby, as well as those risks and uncertainties identified and those identified under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as well as the supplemental risk factors and other information the Company has or may file with the SEC, including those disclosed under Item 8.01 of the Current Reports on Form 8-K filed by the Company with the SEC. Readers are cautioned not to place undue reliance on these statements. Investors should also be aware that under U.S. generally accepted accounting principles (GAAP), certain crypto assets must be measured at fair value, with changes recognized in net income for each reporting period. These fair value adjustments may cause significant fluctuations in the Company’s balance sheet and income statement from period-to-period. In addition, for certain crypto assets, including ETH, which the Company holds as collateral against a loan, impairment charges may be required to be reported in net income if the market price of such assets falls below the cost basis at which those assets are carried on the balance sheet. Readers are encouraged to read the Company’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update any forward-looking statements except as required by law. The Company’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
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SOURCE Forum Markets, Incorporated
Technology
Perhaps Agency Expands Network Relationships for Emerging Brands
Published
27 minutes agoon
October 26, 2026By
Perhaps Agency’s new FuseTwo partnership and AvantLink certification give emerging brands broader access to networks, partnerships and expertise as rising paid-media costs push advertisers toward new acquisition channels.
LAS VEGAS, Oct. 26, 2026 /PRNewswire-PRWeb/ — Perhaps Agency, a full-funnel partner marketing agency specializing in affiliate and influencer marketing, announced the continued expansion of its strategic relationships with networks across the partner marketing industry, including FuseTwo, a recently launched partner marketing platform, and AvantLink, an affiliate marketing platform. These relationships give Perhaps Agency’s clients broader access to networks, technology and partnership opportunities as emerging brands seek growth channels beyond paid media.
Rising costs across paid social and search have pushed many brands to look for acquisition channels they can scale without expanding an internal team or committing to a large retainer. Partner marketing is one route: it brings affiliate, influencer, creator and media partnerships together in one performance-based program. For growing brands, the right network relationships can determine whether an affiliate or influencer program gets off the ground. Perhaps builds and maintains those relationships on its clients’ behalf, while strengthening its ability to identify strategic opportunities and connect brands with the partners that support their growth.
Perhaps Agency’s partnership with FuseTwo, a partner marketing platform built for growing brands, offers Perhaps clients additional opportunities, resources and expertise. These brands gain access to the FuseTwo platform, which brings affiliate, influencer, creator and media partners into a single system with unified attribution. FuseTwo’s cookieless affiliate attribution and tracking, real-time reporting and AI-assisted automation give the Perhaps team faster data across every program the agency manages, supporting publisher recruitment and partner program optimization.
This approach pairs human expertise with accelerated technology. The Perhaps team, with more than two decades of combined partner marketing experience, continues to make the strategic calls, while the FuseTwo platform speeds up the analysis behind them.
As part of the partnership, Perhaps Agency is able to offer certain promotional features through the Perhaps + FuseTwo Growth Launch Offer, available to brands that register with FuseTwo through Perhaps. The features include FuseTwo covering a brand’s first month of Perhaps partner marketing management services, including strategy, recruitment and hands-on support, and Perhaps covering the brand’s FuseTwo platform setup fee. FuseTwo also offers qualifying migrating advertisers 0% transaction fees when they bring a qualifying group of active publishers to the platform. Subsequent management services are subject to the applicable service agreement, and additional terms and eligibility requirements may apply.
Beyond its partnership with FuseTwo, Perhaps is now an AvantLink Certified Agency Partner, demonstrating the company’s expertise and commitment to building network relationships for clients. AvantLink, an affiliate marketing platform, offers an agency certification program for agencies within its ecosystem. The program validates practical expertise in affiliate strategy, partner management, attribution and technology capabilities.
The certification signifies three areas: credibility, capability and visibility. Credibility reflects demonstrated knowledge of affiliate marketing strategy and program management. Capability reflects an understanding of partner relationships, attribution models, reporting and optimization. Visibility reflects opportunities for agency recommendations, preferred partner listings and co-marketing collaboration.
For Perhaps Agency, this status reinforces its expertise in affiliate marketing strategy and publisher partnerships. For growing brands, it means working with an agency that combines experienced program management with access to established affiliate marketing technology, which can help reduce the complexity of launching, managing and scaling a partner program.
About Perhaps: Perhaps Agency is a full-funnel U.S. partner marketing agency, serving as an affiliate marketing agency and influencer marketing agency for emerging and mid-market brands across Apparel, Beauty, Health & Wellness, Home Goods, CPG, DTC and more, including affiliate marketing for Shopify brands, WooCommerce affiliate marketing and affiliate marketing for CPG brands. Perhaps combines affiliate network management, influencer and creator management and Performance PR into a single, integrated partner marketing program. The Perhaps team brings more than two decades of combined affiliate and influencer marketing experience. Learn more at Perhaps.com.
Media Contact
Jen Root, Perhaps, 1 (786) 396-9863, pr@perhaps.com, www.perhaps.com
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SOURCE Perhaps
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