As part of an expanded collaboration to develop artificial intelligence technologies, Veeam Software announced that Microsoft had made an undisclosed equity investment in the cloud data firm.

Veeam's software is made to assist users in rapidly recovering their data following ransomware attacks, cybersecurity disasters, or unintentional data loss.

Immutable backups are supported by its main product to stop ransomware from altering or erasing data, guaranteeing that clean copies may still be recovered even in the event that hackers encrypt files.

In 2021, Microsoft made an investment in Rubrik, a cybersecurity company that also provides data backup and recovery services.

Veeam stated that, with Microsoft's help, it would prioritize design cooperation and investments in research and development. Additionally, Microsoft's AI services will be included into its products.

In December of last year, Veeam announced that its largest shareholder, the US private equity firm Insight Partners, had sold a $2 billion stake in the company in a secondary sale, valuing it at $15 billion.

In 2020, Insight Partners paid roughly $5 billion to acquire Veeam.

According to its website, Veeam, which was founded in 2006, has more than 550,000 clients worldwide, including companies like Deloitte and Canon.

Backup-as-a-service for Microsoft 365 and Azure is offered by Veeam Data Cloud, which is based on Microsoft Azure.

This solution simplifies maintenance and maintains low, predictable costs by including backup software, infrastructure, and storage.

This service's architecture uses Azure Blob Storage that is isolated from production settings and is based on the Zero Trust principles. It keeps backups safe, secure, and prepared for quick recovery through constant versioning and maintenance.