Tech Company Cloud Software to Purchase Arctera in Upcoming Deal
In a recent announcement, Cloud Software Group, a leading software company formed in 2022 through the merger of Citrixx and Tibco, has agreed to acquire Arctera, a data management company specialising in data resilience, compliance, and protection solutions. The deal is subject to regulatory approvals and the fulfillment of customary closing conditions.
Arctera was spun off from Veritas Technologies in 2024, but information about the founding team of Veritas Technologies remains unavailable from the search results. The acquisition of Arctera is from funds affiliated with Carlyle, the global investment firm.
Tom Krause, CEO of Cloud Software Group, expressed admiration for Arctera's business and the work done by both the Arctera and Carlyle teams. Upon closing, Arctera will operate as a standalone business unit within Cloud Software Group.
The transaction is expected to close during the fourth quarter of 2025, but terms were not disclosed. Upon closing, regulatory approvals and the fulfillment of customary closing conditions, Arctera will continue to operate as a standalone business unit within Cloud Software Group.
The deal is also contingent on the fulfillment of customary closing conditions. The acquisition of Arctera by Cloud Software Group marks a significant step in Cloud Software Group's growth strategy, as they aim to expand their portfolio of offerings in the data management sector.
Stay tuned for more updates as this story develops.
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