Microsoft partners with Veeam software to drive AI-powered data solutions

Microsoft has made an undisclosed equity investment in Veeam Software to enhance their partnership in developing AI-driven data products, Veeam announced on Tuesday.

Veeam’s software helps businesses recover data after cyberattacks, ransomware, or accidental loss. The collaboration will focus on R&D and integrating Microsoft’s AI services into Veeam’s offerings.

Insight Partners, the largest shareholder in Veeam, sold a $2 billion stake in the company in December, bringing its valuation to $15 billion. Veeam, founded in 2006, serves over 550,000 customers globally, including Deloitte and Canon.