Insight Partners agreed to acquire Veeam Software in a deal valued at approximately $5 billion. Financial details were not disclosed.
Veeam Software offers backup solutions that deliver Cloud Data Management. The company, which was founded in 2006 and currently is headquartered in Switzerland, has estimated 2019 revenues of US$1 billion. Veeam has approximately 4,000 employees.
Under the ownership of Insight Partners, Veeam will become a U.S. company, with a U.S.-based leadership team, while continuing its global expansion from offices in 30 countries and with customers in over 160 countries. Veeam co-founders, Ratmir Timashev and Andrei Baronov, will be stepping down as members of the Board of Directors at the close of the transaction and will not be employed by the company, although they will continue as consultants. Bill Largent will assume the role Chief Executive Officer (CEO) in addition to his position as Chairman of the Board of Directors. In addition, Jim Kruger has been promoted to Chief Marketing Officer (CMO) and Danny Allan promoted to Chief Technology Officer (CTO) & Senior Vice President (SVP) of Product Strategy.
https://www.veeam.com/
