Insight Partners buys Veeam

Insight Partners buys Veeam

Anna Savelyeva

The transaction is estimated at approximately $ 5 billion. The final agreement was signed on Thursday, January 9. Closing is scheduled for the first quarter of 2020.

As noted by Insight Partners, Veeam will become an American company with a management team in the USA and with clients in more than 160 countries (offices are located in 30 of them). The staff that counts
Now over 1200 people will be expanded. The acquisition will allow Veeam to accelerate Act II (Veeam’s evolution into the Hybrid Cloud), expand into new markets and continue its growth.

At the same time, William Largent was appointed CEO. Previously, he held the position of Executive Vice President. Danny Allan was promoted to CTO.
Co-founders Andrei Baronov and Ratmir Timashov will leave the Board of Directors.

Baranov and Timashov founded Veeam in 2006 and did not receive external funding until Insight invested $ 500 million in January 2019. During this time, the company has expanded the software
Veeam Cloud Data Management has launched a number of innovations, including Veeam Backup for Amazon Web Services (AWS), Veeam Backup for Microsoft Office 365 v4, Veeam Universal License (VUL), and
has announced Veeam Backup for Microsoft Azure. After that, sales in the US are expected to go better.

Also earlier this year, Insight Partners absorbed Israeli startup Armis. $ 1.1 billion worth of the deal. CapitalG Investment Fund, which provided $ 100, was involved in the financing
million After acquisition, Armis will continue to operate as an independent company under the management of the former team.

Armis has developed a corporate security platform for IoT infrastructure. Its clients include Allergan, Mondel─ôz, Oracle, Samsung and others. The company was founded in 2015. In the role of CEO
Yevgeny Dibrov, Chief Technical Officer – Nadir Israel. Today, there are 250 employees in its staff, 130 of which are in Israel.

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Veeam Software | Wim Softwareweaver

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