Veeam Software, which IDC analysts say is the leader in data management protection by market share, has acquired Coveware, a provider of cyber-extortion incident response services.
Veeam, with its growing ecosystem of channel partners, says the acquisition, for an undisclosed sum, adds improved ransomware recovery and first responder capabilities to its portfolio of services.
Coveware by Veeam will operate as a distinct unit, providing incident response services to victims of cyber extortion attacks as well as working proactively with enterprise customers on incident response preparedness.
Founded in 2018, Coveware offers “rapid” forensic triage, extortion negotiation and remediation, cryptocurrency settlements, and decryption services.
Select Coveware by Veeam capabilities will be incorporated into Veeam offerings, including the Veeam Data Platform and the Veeam Cyber Secure Program, delivering Coveware insights and capabilities to a broader set of customers.
Anand Eswaran, CEO of Veeam, said: “Coveware is already helping enterprises across the world improve their defences, and if the worst happens, helping them recover.”
According to IDC, in the very crowded global data replication and protection market, Veeam has a 13.1% share, followed by Dell Technologies on 11.9%. Next up is Veritas on 8.8%, and IBM with 8.3%. Completing the top five is Commvault with 6.4%. Cohesity is currently in the process of buying most of the operations of Veritas, so may well break into the top five in the future.
