Microsoft has made an undisclosed equity investment in Veeam Software to strengthen their collaboration in developing artificial intelligence (AI) products. Veeam specializes in software that facilitates rapid data recovery after cybersecurity incidents, ransomware attacks, or accidental data loss. Its primary offering includes immutable backups, ensuring ransomware cannot alter or delete data.
The partnership will concentrate on research and development, design collaboration, and integrating Microsoft’s AI services into Veeam’s products. In December, Insight Partners, Veeam’s largest shareholder, sold a $2 billion stake in the company, valuing Veeam at $15 billion.
Insight Partners had previously acquired Veeam for approximately $5 billion in 2020. Established in 2006, Veeam serves over 550,000 customers worldwide, including prominent corporations like Deloitte and Canon.
Source: Swifteradio.com
