Insight Partners to Acquire Swiss Cloud Data Management Leader Veeam

Leading software investor Insight Partners announces its entry into a definitive agreement to acquire Veeam Software, the leader in Backup solutions that deliver Cloud Data Management™. Under the ownership of Insight Partners, Veeam will become a US company, with a US-based leadership team. 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 H. Largent, who previously held the role of Executive Vice President (EVP), Operations, has been promoted to CEO and Danny Allan has been promoted to CTO.

Commenting on the occasion, Mike Triplett, Managing Director of Insight Partners and Veeam Board member says, “Veeam’s platform is the most advanced and complete data management solution available to businesses requiring a seamless blend of data backup and recovery, data protection, data security and data availability. We are committed to supporting Veeam’s next phase of leadership and growth in the United States, continued market-share leadership position in EMEA and continued global expansion.”

William states, “Veeam has one of the highest caliber global workforces of any technology company, and we believe this acquisition will allow us to scale our team and technology at an unrivaled pace.” During the last decade, Veeam’s approach has seen it collecting more than 170 industry awards, being named as a leader in three consecutive backup and data recovery Magic Quadrants by Gartner, boasting a consistent leadership position in the

Veeam has one of the highest caliber global workforces of any technology company, and we believe this acquisition will allow us to scale our team and technology at an unrivaled pace.

Forrester Wave and also being named as one of Forbes’ Cloud 100 companies for four straight years.

Commenting on this, Danny says, “While Veeam’s preeminence in the data management space, currently supporting 81% of the Fortune 500, is undeniable, this commitment from Insight Partners and deeper access to its unmatched business strategy and ScaleUp division, Insight Onsite, will bring Veeam’s solutions to more businesses across the globe.”

The Board of Directors will be immediately supplemented with seasoned software, government and business leadership as co-investor Nick Ayers, of Ayers Neugebauer & Company, a member of the World Economic Forum’s Young Global Leaders and former Chief of Staff to the Vice President of the United States, joins Insight Partners’ Managing Director Mike Triplett and Veeam CEO, William H. Largent on the Board. Following the acquisition, Co-Founders Andrei Baronov and Ratmir Timashev will step down from the Board. Additionally, Insight Partners’ Managing Directors Ryan Hinkle and Ross Devor will each serve on the Board once the acquisition has been completed.

Goldman Sachs & Co., J.P. Morgan and Morgan Stanley served as financial advisors, and Willkie Farr & Gallagher LLP served as legal counsel, to Insight Partners. Ropes & Gray LLP served as legal counsel to Veeam. Financing commitments for the transaction provided by affiliates of J.P. Morgan, Goldman Sachs & Co., Morgan Stanley, Ares Management, Bank of America, Golub Capital and Antares Capital.