Cohesity Becomes World’s Largest Data Protection Software Provider After Completing Combination with Veritas’ Enterprise Data Protection Business
December 12, 2024—GTC Law Group, led by Sean Belanga, Sayoko Blodgett-Ford, and Grace Lee, served as counsel to Cohesity on the acquisition, focusing on intellectual property, data privacy and security, and commercial matters.
The combination was completed on December 10 and positions Cohesity as the largest data protection software provider by market share. Serving over 12,000 customers, including over 85 of the Fortune 100 and nearly 70% of the Global 500, the company 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 in the data protection industry, reaching that milestone in 11 years. On a pro forma adjusted basis for the fiscal year ending July 2024, the combined entity had over $1.7 billion in revenue, annual recurring revenue of $1.5 billion, and a 28% adjusted cash EBITDA margin.
GTC partners with many of the world’s most innovative technology companies to help grow and protect their businesses and interests. The firm’s clients include global technology leaders, entrepreneurs, venture-backed startups, and established companies.
GTC principal and co-founder Sean Belanga has over 25 years of experience in M&A and technology transactions and brings an immense depth of IP knowledge to his M&A practice. He is frequently engaged in a strategic role as specialist co-counsel on IP-intensive transactions, particularly in the software, networking, information security, and semiconductor technology industries.
GTC principal Grace Lee is experienced in M&A and technology transactions and is particularly focused on cross-border software and data-centric technology companies.
More details about the transaction are available in Cohesity’s press release, published on its website: Cohesity Becomes World’s Largest Data Protection Software Provider After Completing Combination with Veritas’ Enterprise Data Protection Business.