Feb 25 (Reuters) - Microsoft ( MSFT ) has made an
undisclosed equity investment in Veeam Software as part of an
expanded partnership to build artificial intelligence products,
the cloud data company said on Tuesday.
Veeam's software is designed to help customers quickly
recover their data after cybersecurity incidents, ransomware
attacks or accidental data loss.
Its core product supports immutable backups to prevent
ransomware from modifying or deleting data, ensuring that clean
copies remain available for recovery even if hackers encrypt
files.
Microsoft ( MSFT ) had invested in cybersecurity firm Rubrik ( RBRK )
in 2021, which also offers data backup and recovery solutions.
Veeam said it would focus on research and development
investments and design collaboration, among others, with the
support of Microsoft ( MSFT ). It will also integrate Microsoft's ( MSFT ) AI
services into its products.
U.S. private equity firm Insight Partners, which is the
largest shareholder in Veeam, sold a $2 billion stake in the
company in a secondary sale valuing the firm at $15 billion, it
said in December last year.
Veeam was acquired by Insight Partners for about $5 billion
in 2020.
Founded in 2006, Veeam has more than 550,000 customers
globally including corporations such as Deloitte and Canon,
according to its website.