Microsoft has made an undisclosed equity investment in Veeam Software as part of an expanded partnership focused on developing artificial intelligence-powered data protection solutions, the cloud data company announced on Tuesday.
Veeam specializes in data backup and recovery, helping customers mitigate the impact of cybersecurity incidents, ransomware attacks, and accidental data loss. Its core technology supports immutable backups, preventing ransomware from altering or deleting data and ensuring clean copies remain available for recovery.
As part of the partnership, Veeam will integrate Microsoft’s AI services into its products and prioritize research and development investments. The collaboration builds on Microsoft’s previous investment in cybersecurity firm Rubrik in 2021, which also provides data recovery solutions.
U.S. private equity firm Insight Partners, Veeam’s largest shareholder, sold a $2 billion stake in the company in December, valuing the firm at $15 billion. Insight Partners had acquired Veeam for approximately $5 billion in 2020.
Founded in 2006, Veeam serves more than 550,000 customers worldwide, including major corporations such as Deloitte and Canon.
