Yazılar

Veeam to Acquire Securiti AI for $1.73 Billion to Strengthen Cloud Data and AI Security

/in /tarafından

Veeam Software announced on Tuesday that it will acquire Securiti AI for about $1.73 billion, a major deal aimed at enhancing data protection and governance across cloud and AI applications. The acquisition combines Veeam’s backup and recovery software with Securiti’s Data Command Center, a platform designed to unify, secure, and manage sensitive data spread across multiple cloud environments.

The move positions Veeam to better compete with Rubrik and Commvault Systems, as organizations increasingly demand integrated solutions that address both cybersecurity resilience and AI data governance. With cyberattacks and ransomware incidents on the rise, Veeam aims to strengthen its foothold in the fast-growing market for secure cloud data management.

Following the acquisition, Securiti AI CEO Rehan Jalil will join Veeam as President of Security and AI, reflecting the company’s commitment to embedding data protection more deeply into its products. The deal, expected to close in the fourth quarter, was supported by Morgan Stanley, which advised Securiti AI, while JPMorgan provided financing for Veeam.

Veeam said it will continue to offer Securiti’s flagship Data Command Center while developing new integrated capabilities. The acquisition follows a period of significant valuation growth for Veeam: private equity firm Insight Partners, its largest shareholder, sold a $2 billion stake in 2023, valuing the company at $15 billion, up from its $5 billion acquisition price in 2020.

Veeam’s software is widely used to protect enterprise data from ransomware attacks and accidental loss, offering immutable backups that ensure recovery even when files are encrypted by hackers.

Netskope Targets $6.5 Billion Valuation in Upcoming U.S. IPO

/in /tarafından

Netskope, a cloud-based cybersecurity company, announced plans to raise up to $813 million in its U.S. initial public offering, aiming for a valuation of up to $6.5 billion. The IPO comes amid a rebound in listings after April’s tariff-driven market slump.

The Santa Clara-based firm will sell 47.8 million shares priced between $15 and $17 each, listing on the Nasdaq under the ticker “NTSK”.

Founded in 2012, Netskope provides cloud security solutions that protect apps, websites, and data from cyber threats. The company operates in the secure access service edge (SASE) market, competing with heavyweights like Palo Alto Networks and Zscaler. Gartner projects the SASE sector will grow from $7B in 2022 to $25B by 2027, reflecting rising demand for AI-powered cybersecurity amid more sophisticated attacks and the cloud shift.

Netskope’s client base includes Qualcomm and BMO, spanning mid-sized firms to global enterprises. Its last funding round in 2021, led by ICONIQ, Sequoia, and Accel, valued the firm at $7.5B.

The IPO follows rival Rubrik’s 2023 debut, whose shares have more than doubled since going public, underscoring investor appetite for cybersecurity plays.

Morgan Stanley and J.P. Morgan are lead underwriters.

ServiceTitan Targets $5.95 Billion Valuation in U.S. IPO

/in /tarafından

erviceTitan, a software startup specializing in tools for the home services industry, is aiming for a valuation of up to $5.95 billion in its U.S. initial public offering (IPO). The company announced on Tuesday that it has raised the price range for its shares to $65–$67, significantly increasing the potential proceeds from its IPO amid a resurgence in the capital markets for new listings.

While the company will sell 8.8 million shares as previously planned, the updated price range could generate as much as $589.6 million, up from the $502 million it would have raised at the higher end of its earlier price band.

The Glendale, California-based firm develops software used by technicians in the heating, ventilation, and air conditioning (HVAC) industries, carving out a strong position in this niche market.

MARKET CONTEXT AND COMPETITORS

ServiceTitan’s IPO comes at a time when the U.S. IPO market is showing signs of recovery in 2024, following a prolonged period of reduced activity. The company is set to join other venture-backed firms, such as Reddit and cybersecurity software provider Rubrik, which have gone public this year.

ServiceTitan’s founders, Ara Mahdessian and Vahe Kuzoyan, have transformed the company into a market leader within its specialized sector, which serves businesses reliant on field technicians.

The company will trade on the Nasdaq under the ticker symbol “TTAN.”

LEADERSHIP AND UNDERWRITERS

Goldman Sachs, Morgan Stanley, Wells Fargo, and Citigroup are spearheading a 14-firm underwriting syndicate for the IPO, underscoring strong institutional support for ServiceTitan’s public debut.

As the capital markets continue to recover, ServiceTitan’s IPO will be closely watched as a signal of investor appetite for venture-backed software firms targeting niche industries.