SoftBank-backed Cohesity in $3 billion deal for Veritas’ data protection unit

SoftBank Group -backed Cohesity told Reuters on Wednesday it agreed to acquire the data protection business of information technology company Veritas, in a deal that sources said is worth about $3 billion, including debt.

Cohesity has raised about $1 billion from investors, including Haveli Investments, Premji Invest and Madrona, to help fund the transaction, one of the sources said, requesting anonymity because the companies are not disclosing financial terms.