Google announced Wednesday, December 2, 2020, that it had made a deal to acquire cloud-focused data protection technology developer Actifio in the hopes of fortifying the tech giant’s cloud storage. Financial details of the acquisition were not disclosed to the public, states ZD Net.
Actifio is a data management company designed to help firms deal with technological and security challenges, including security breaches and disaster recovery, notes Tech Crunch.
CRN states that Actifio’s platform and system make it possible to link and integrate with existing third-party service management tools and other applications on the market. This makes it easier to recover data and to make backups more efficient.
Google’s decision to acquire Actifio comes as the industry is moving towards a landscape that contains “sophisticated” and well-thought-of attacks and breaches. Moreover, the deal comes at a time that the tech industry is forced to contend with strong data protection laws.
In addition, ZD Net states that the company is also known for its involvement in addressing outside threats, network failures, and more, through its excellent backup system and data management approach.
In a blog post written by Google’s Vice President of Engineer Brad Calder, he said that “As organizations across industries sharpen their disaster preparedness strategies and infrastructure resiliency, Actifio’s business continuity solutions will help Google Cloud customers prevent data loss and downtime due to external threats, network failures, human errors and other disruptions.”
The startup deals with managing and updating storage solutions, providing virtual copies of data, and many others. With the company adept in a variety of systems, including Oracle, Microsoft SQL Server, virtual machines, the Google Compute Engine, and many others, Tech Crunch states that it provides Google with a wider landscape to play around with.
As Actifio incorporates with the Google Cloud ecosystem, ZD Net states that its technology will help the tech giant expands its offerings and services to the market, now including data recovery and backup as part of its approach.
Chief executive officer of Actifio, Ash Ashutosh said of the partnership, “We’re excited to join Google Cloud and build on the success we’ve had as partners over the past four years. Backup and recovery are essential to enterprise cloud adoption and, together with Google Cloud, we are well-positioned to serve the needs of data-driven customers across industries.”
While there are no details about the partnership cum acquisition, Tech Crunch reveals that the startup company is worth over $1 billion as of 2018. However, the startup was reportedly raising funding with around a 60 percent discount on its recent valuation.
Actifio counts investors such as 83 North, Andreessen Horowitz, Tiger Global Management, TCV, and more as part of its core funding group. In total, Tech Crunch shares that the data management company has raised a total of $461 million.
