Veeam buys ransomware response company Coveware | #ransomware | #cybercrime

Data protection and ransomware recovery company Veeam has acquired cyber extortion incident response service provider Coveware to help ramp up its resilience solutions for customers.

Post-acquisition Coveware will continue to operate as a provider of incident response services, but under the Veeam banner.

Coveware was founded in 2018 to assist cyber extortion victims and has developed software and services capable of enabling rapid forensic triage, extortion negotiation and remediation, cryptocurrency settlements and decryption services, all with the goal of data recovery from ransomware attacks.

The company provides fully automated technology that runs across a customer’s operational environment to perform forensic triage analysis and helps recover encrypted data from known ransomware groups. Coveware employs a global team of cyber threat experts who have worked with many of the world’s largest companies to assess, prevent and recover from cyber attacks.

According to Veeam CEO Bill Siegel, the acquisition will help customers with the extremely difficult task of recovering from cyber incidents.

“Our goal is to minimise the cost of disruption by providing best-in-class incident response tools and services,” he said. “The threat intelligence gathered from our incident response work also [helps] our proactive large enterprise clients reduce their risk and increase their resiliency.”

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