Cohesity has completed its combination with the enterprise data protection business of Veritas, a deal it says makes it the largest data protection software provider by market share. The company, which describes itself as an AI-powered data security business, says the combined firm will serve more than 12,000 customers, including more than 85 of the Fortune 100, and protect hundreds of exabytes of data. The transaction was funded by a Series H round led by Haveli Investments and a term loan arranged by JP Morgan.

Cohesity keeps the Veritas products under the combination agreement, including NetBackup and the Alta data protection line, and says it will continue to develop both roadmaps.

Market share is a claim about scale, not about recovery

The number to hold onto is not the customer count but the task the product performs. Backup software is the last line of defence in a ransomware attack, and its usefulness depends entirely on whether a restore actually works under pressure — something a market-share figure cannot tell a reader.

Integrating two large backup estates is also a support problem before it is a technology one. The company has promised that no customer is left behind, which is the commitment every acquirer makes and the one customers judge first. Jensen Huang, the chief executive of NVIDIA, offered a supportive quote about building generative tools on Cohesity, which speaks to the AI story rather than to resilience. The claim of being largest is the company's own reading of an analyst market estimate. Whether a bigger vendor restores data more reliably is a question only its customers' next bad week can answer, and the announcement offers no restore figures to suggest otherwise.