Google Cloud announced that it has agreed to acquire data management company Actifio, a leader in backup and disaster recovery.
Actifio offers customers the opportunity to protect virtual copies of data in their native format, manage these copies throughout their entire lifecycle, and use these copies for scenarios like development and test.
Actifio is a privately-held organization and has raised over $350 million to date from venture capital investors. The investors in Actifio include North Bridge Venture Partners, 83NORTH, Advanced Technology Partners, Andreessen Horowitz, Technology Crossover Ventures and Tiger Global Management.
“We’re excited to join Google Cloud and build on the success we’ve had as partners over the past four years,” said Ash Ashutosh, CEO at Actifio.
“Backup and recovery is essential to enterprise cloud adoption and, together with Google Cloud, we are well-positioned to serve the needs of data-driven customers across industries,” he said in a statement on Wednesday.
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 market for backup and DR services is large and growing, as enterprise customers focus attention on protecting the value of their data as they accelerate their digital transformations,” said Matt Eastwood, senior vice president of Infrastructure Research at IDC.
The global enterprise data management market size is expected to reach USD 135.88 billion by 2027, according to a new report by Grand View Research. The market is anticipated to exhibit a CAGR of 9.7 percent from 2020 to 2027.
The global disaster recovery solutions market size is expected to reach USD 26.23 billion by 2025, according to a study by Grand View Research, registering a CAGR of 36.5 percent during the forecast period.
The disaster recovery solutions market has been experiencing a significant increase in demand owing to growing instances related to infrastructure failure, cyber-attacks, natural disasters, and other internal and external threats.
