Data Protection and Ransomware Recovery firm Veeam Software has acquired cyber extortion incident response business Coveware.
“The acquisition brings best-in-class ransomware recovery and first responder capabilities to further strengthen Veeam’s radical resilience solutions for customers,” a statement from Veeam reads.
Coveware will continue to operate as it does today, providing incident response services to victims of cyber extortion attacks and working with enterprise customers on incident response preparedness.
Select Coveware capabilities will be incorporated into Veeam offerings including the Veeam Data Platform and the Veeam Cyber Secure Program. Veeam says this will deliver insights and capabilities to a broader set of customers.
“Combining (Coveware’s) capabilities with Veeam’s data protection and ransomware recovery solutions, which are used by over 450,000 customers, creates the most complete set of cyber resilience capabilities available from one source,” said Veeam CEO Anand Eswaran.
Veeam says integrating its backup capabilities with Coveware’s encryption-defeating technology should yield faster time-to-detection and faster time-to-recover, minimising the impact of an attack. A recent IDC survey found that 70% of organisations reported they take days or weeks to recover from ransomware, while the best practice time to recovery is less than 24 hours.
“Recovering from cyber incidents is extremely difficult,” said Bill Siegel, CEO and co-founder at Coveware. “Our goal is to minimise the cost of disruption by providing best-in-class incident response tools and services. Working as part of Veeam brings the distribution of these capabilities to many more customers around the world, which is a fascinating opportunity for our entire team.”
