Private equity-backed Veeam Software, owned by Insight Partners, has agreed to acquire Securiti AI for approximately $1.73bn in cash and stock, marking a significant expansion in enterprise AI data security, according to a report by Bloomberg.
The acquisition, expected to close in the first week of December, will integrate Securiti’s Data Command Center into Veeam’s existing backup and recovery platform, enabling clients to secure AI models and agents from accessing sensitive corporate data. Post-deal, Securiti CEO Rehan Jalil will join Veeam as president of security and AI.
The transaction is backed by major financial advisors and financiers – Morgan Stanley advised Securiti AI, while JPMorgan Chase provided financing to Veeam.
Veeam, purchased by Insight Partners in 2020 for around $5bn, was later valued at $15bn in a secondary offering led by TPG with participation from Temasek and Neuberger Berman Capital Solutions. Securiti AI, which counts General Catalyst and Mayfield among its investors, was valued at $575m in 2023.
