Insight Partners, a leading software investor, entered today into a definitive agreement to acquire Veeam Software, the leader in Backup solutions that deliver Cloud Data Management. Veeam is set to become a U.S. company, with a U.S.-based leadership team, while continuing its global expansion from offices in 30 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. Insight Partners have previously invested in Veeam at the beginning of 2019 and the two have worked together through Insight Partners’ business strategy and ScaleUp division, Insight Onsite, to expand its software-defined Veeam Cloud Data Management Platform.
“Veeam has enjoyed rapid global growth over the last decade and we see tremendous opportunity for future growth, particularly in the U.S. market. With the acquisition, we are excited that our current U.S. workforce of more than 1,200 will be expanded and strengthened to acquire and support more customers. 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.” Stated William H. Largent, CEO at Veeam.
Veeam has 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 – growing its share of the U.S. market, as well as cementing its position in the global market. The acquisition and bolstering of U.S. leadership will accelerate Veeam’s already impressive growth trajectory and expansion into adjacent markets.
“Veeam’s strong growth, coupled with high customer retention, unparalleled 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. 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.” Declared Insight Partners Managing Director and Veeam Board member Mike Triplett.