Veeam® Software announced that Insight Partners has completed its acquisition of the company, which was announced on January 9, 2020, at a valuation of approximately $5 billion. Following an investment from Insight Partners at the beginning of 2019, the acquisition of Veeam with over $1 billion in annual sales and more than 365,000 customers worldwide, will drive accelerated growth in the U.S market.
“Insight has been a trusted partner since 2013 when they made their first minority-stake investment in Veeam,” said Bill Largent, CEO at Veeam.” They are known for taking high-growth international companies and driving their success in the U.S. market, where they can add invaluable resources, support and expertise.
In addition to enabling Veeam to accelerate its Act II, the company will move the company’s headquarters to the U.S. from Switzerland and add strength and experience to its executive team. As part of the acquisition, the following appointments have been made:
“With the Insight acquisition completed today and our recent release of the new Veeam Availability Suite v10 – the next generation of data protection – we have our sights set on extending that leadership position into the US, where we can leverage the growth opportunity for cloud data management in the enterprise.”,said Danny Allan, CTO at Veeam.
“The future of cloud computing is hybrid – where data is created, stored, managed, and replicated across platforms and environments,” said Crawford Del Prete, President at IDC. “Veeam has consistently addressed the hard problems that customers have around next-generation data management. This is a significant transaction that provides the additional resources necessary for Veeam to address the needs of an increasingly diverse and complex customer landscape.”
