Veeam has acquired Coveware, a leading provider in cyber-extortion incident response.
Coveware combines aggregated ransomware case data, refined negotiating techniques and sound financial and operational controls to achieve superior ransomware incident response and recovery for our clients. The company created Recon and Unidecrypt, two proprietary software packages for cost analysis and ransomware decryption, respectively.
Since its founding in 2018, Coveware has helped thousands of cyber extortion victims and developed industry leading software and services that enable rapid forensic triage, extortion negotiation and remediation, cryptocurrency settlements and decryption services with a singular goal and outcome – data recovery from ransomware attacks.
Sounds clear that this acquisition is finalized to improve the Veeam’s malware and security solutions, actually mostly focused on the detection part, but with a lot of space for improvements in the reporting and remediation part!
The rebranded Coveware by Veeam will have integrations with the Veeam Cyber Secure program, a white-glove cyber recovery service, according to the vendor.
Coveware will remain operationally independent with its cyberincident capabilities and ransomware research complementing the data backup vendor’s recovery offerings.
“A lot of backup companies are buying security companies. Our view is, we want to buy something in the prevention business, not in the ‘aftereffects’ business. If you suffer from an incident, what you do after the incident of course is hugely important. But whatever you can do prior to the incident is even more beneficial,” says Dave Russell, Veeam’s acting CTO and vice president of enterprise strategy.
