Security News > 2020 > January > Insight Partners to acquire Veeam for $5 billion

Software investor Insight Partners announced that it has entered into a definitive agreement to acquire Veeam Software, the leader in Backup solutions that deliver Cloud Data Management.

Following an investment from Insight Partners at the beginning of 2019, Veeam, the clear market leader with over $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, Veeam Backup for Microsoft Office 365 v4, Veeam Universal License 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.

According to the latest IDC Software Tracker, Veeam is the #1 market-share leader in EMEA and the #4 worldwide, after DellEMC, Veritas and IBM. Today, Veeam is the clear market leader, delivering Backup solutions that enable Cloud Data Management, and has recently launched exciting 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 the most powerful software-defined data management solution in the industry.

"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," Insight Partners Managing Director and Veeam Board member Mike Triplett said.

News URL

http://feedproxy.google.com/~r/HelpNetSecurity/~3/gRnqPYM3eYY/