In­sight Part­ners to ac­quire Veeam in $5bn deal

The Punch - - INFORMATIO­N TECHNOLOGY -

SOFT­WARE in­vestor in­sight Part­ners has en­tered into a defini­tive agree­ment to ac­quire Veeam Soft­ware for $5bn, ac­cord­ing to IT-ON­LINE.

Un­der the own­er­ship of in­sight Part­ners, Veeam will be­come a US com­pany, with a Us-based lead­er­ship team, while con­tin­u­ing its global ex­pan­sion from of­fices in 30 coun­tries and with cus­tomers in over 160 coun­tries.

The ac­qui­si­tion, which is ex­pected to close dur­ing the first quar­ter of 2020, will en­able Veeam to ac­cel­er­ate its Act ii (Veeam’s evo­lu­tion into hy­brid Cloud), ex­pand into new mar­kets and con­tinue its growth tra­jec­tory.

As part of the ac­qui­si­tion, Wil­liam Lar­gent has been pro­moted to chief ex­ec­u­tive of­fi­cer – he pre­vi­ously held the role of ex­ec­u­tive vi­cepres­i­dent, op­er­a­tions – and Danny Al­lan has been pro­moted to chief tech­nol­ogy of­fi­cer.

Fol­low­ing an in­vest­ment from in­sight Part­ners at the be­gin­ning of 2019, Veeam worked along­side in­sight Part­ners’ busi­ness strat­egy and Scaleup di­vi­sion, in­sight on­site, to ex­pand its soft­ware-de­fined Veeam Cloud Data Man­age­ment Plat­form.

The com­pany launched a num­ber of new in­no­va­tions over the last year, such as Veeam Backup for Ama­zon Web Ser­vices, Veeam Backup for Mi­crosoft Of­fice 365 v4, Veeam Uni­ver­sal Li­cense and an­nounc­ing Veeam Backup for Mi­crosoft Azure – grow­ing its share of the US mar­ket, as well as ce­ment­ing its po­si­tion in the global mar­ket.

The ac­qui­si­tion and bol­ster­ing of the US lead­er­ship will ac­cel­er­ate Veeam’s growth tra­jec­tory and ex­pan­sion into ad­ja­cent mar­kets.

Lar­gent said, “Veeam has en­joyed rapid global growth over the last decade and we see tremen­dous op­por­tu­nity for fu­ture growth, par­tic­u­larly in the US mar­ket.”

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