Veeam buys Coveware in push to enhance ransomware protection

Founded in 2018, Coveware specialises in cyber-extortion incident response

Data security vendor Veeam has acquired Coveware, a provider of cyber-extortion incident response.

Operating as Coveware by Veeam, the buyout is aimed at improving Veeam's existing ransomware protection and recovery capabilities with cyber-extortion incident response services.

Financial terms of the deal were not disclosed.

Founded in 2018, Coveware facilitates rapid forensic triage, extortion negotiation, and remediation, ensuring swift data recovery from ransomware attacks.

Leveraging insights garnered from these incidents, Coveware provides threat intelligence to educate customers, mitigate risks, and expedite recovery efforts.

Anand Eswaran, CEO at Veeam, stresses the urgency of addressing cyber threats, stating, "It's no longer a question of if but when your organisation will be attacked."

The incorporation of Coveware elements into the Veeam data platform and cyber secure programme amplifies Veeam's proactive stance towards cyber protection.

Phil Goodwin, research vice president at IDC, highlighted the significance of the move, stating, "Veeam's acquisition of Coveware can help organisations address gaps in backup and encryption-defeating technology, resulting in faster detection and recovery."

The buyout falls in line with Veeam's strategic focus on ransomware protection as a major line of growth.

In October 2023, the vendor's UK&I channels and alliances director, Alex Walsh, outlined this focus, telling CRN: "The big one is ransomware in all its forms. A key part of our theme on tour with VeeamON this year was around ransomware, not just the attack itself, but the process behind it," Walsh reveals.

"One of the things we talk about with a lot of our customers and partners is, it's not a case of if or when it's how many times you get attacked.

"A large percentage of what we talk about with partners at the moment is how to help customers make sure that when they get attacked, they have cyber resiliency built up and that they have the correct data protection in place to make sure that when they're attacked, they can recover quickly."