Software investor Insight Partners has entered into a definitive agreement to acquire Veeam Software, which provides 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, 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 H. Largent has been promoted to CEO. He previously held the role of Executive VP, Operations – and Danny Allan has been promoted to CTO.
Following an investment from Insight Partners at the beginning of 2019, Veeam, which has over US$1 billion in annual sales and more than 365,000 customers worldwide, 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, including Veeam Backup for Amazon Web Services (AWS), Veeam Backup for Microsoft Office 365 v4, Veeam Universal License (VUL) and announcing Veeam Backup for Microsoft Azure – cementing its position in the global market.
Said William H. Largent, CEO at Veeam: “Veeam has one of the highest calibre global workforces of any technology company, and we believe this acquisition will allow us to scale our team and technology at an unrivalled pace.”
At the core of Veeam’s strategy is delivering simplicity, flexibility and reliability to its global customer base. According to the latest IDC Software Tracker, Veeam is the No. 1 marketshare leader in EMEA and No. 4 worldwide, after Dell EMC, Veritas and IBM.
Today, Veeam delivers backup solutions that enable cloud data management, and recently launched new cloud-native solutions that will enable customers to manage, migrate, orchestrate and protect data across AWS and Microsoft Azure environments – core elements of its Act II.
In the coming weeks, NEW Veeam Availability Suite v10 will be generally available, providing users with a powerful software-defined data management solution.
“In a world where a business’ most valuable asset, its data, is constantly on the move and being created at unprecedented rates, data management has never been more critical, and more complex. Legacy solutions cannot keep up. Veeam’s software provides holistic coverage for the modern business,” Allan said.
“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.”
“Veeam’s strong growth, coupled with high customer retention, unparallelled data management solutions and the opportunities to expand services into new markets, make Veeam one of the most exciting software companies in the world today,” Insight Partners MD and Veeam Board member Mike Triplett said.
“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 US, continued market-share leadership position in EMEA and continued global expansion.”
Insight Partners is a global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over US$20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success.
Veeam provides a single platform for modernising backup, accelerating hybrid cloud and securing data. With 365,000+ customers worldwide, including 66% of the Global 2,000, Veeam customer-satisfaction scores are the highest in the industry at 3.5x the average. Veeam’s global ecosystem includes 70,000+ partners, including HPE, NetApp, Cisco and Lenovo as exclusive resellers.
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 H. Largent has been promoted to CEO. He previously held the role of Executive VP, Operations – and Danny Allan has been promoted to CTO.
Following an investment from Insight Partners at the beginning of 2019, Veeam, which has over US$1 billion in annual sales and more than 365,000 customers worldwide, 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, including Veeam Backup for Amazon Web Services (AWS), Veeam Backup for Microsoft Office 365 v4, Veeam Universal License (VUL) and announcing Veeam Backup for Microsoft Azure – cementing its position in the global market.
Said William H. Largent, CEO at Veeam: “Veeam has one of the highest calibre global workforces of any technology company, and we believe this acquisition will allow us to scale our team and technology at an unrivalled pace.”
At the core of Veeam’s strategy is delivering simplicity, flexibility and reliability to its global customer base. According to the latest IDC Software Tracker, Veeam is the No. 1 marketshare leader in EMEA and No. 4 worldwide, after Dell EMC, Veritas and IBM.
Today, Veeam delivers backup solutions that enable cloud data management, and recently launched new cloud-native solutions that will enable customers to manage, migrate, orchestrate and protect data across AWS and Microsoft Azure environments – core elements of its Act II.
In the coming weeks, NEW Veeam Availability Suite v10 will be generally available, providing users with a powerful software-defined data management solution.
“In a world where a business’ most valuable asset, its data, is constantly on the move and being created at unprecedented rates, data management has never been more critical, and more complex. Legacy solutions cannot keep up. Veeam’s software provides holistic coverage for the modern business,” Allan said.
“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.”
“Veeam’s strong growth, coupled with high customer retention, unparallelled data management solutions and the opportunities to expand services into new markets, make Veeam one of the most exciting software companies in the world today,” Insight Partners MD and Veeam Board member Mike Triplett said.
“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 US, continued market-share leadership position in EMEA and continued global expansion.”
Insight Partners is a global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over US$20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success.
Veeam provides a single platform for modernising backup, accelerating hybrid cloud and securing data. With 365,000+ customers worldwide, including 66% of the Global 2,000, Veeam customer-satisfaction scores are the highest in the industry at 3.5x the average. Veeam’s global ecosystem includes 70,000+ partners, including HPE, NetApp, Cisco and Lenovo as exclusive resellers.
No comments:
Post a Comment