Security News > 2024 > August > EQT buys majority share in Swiss cybersecurity biz Acronis

Acronis, the Swiss disaster recovery turned cybersecurity firm and catch-all for managed service providers, has been majority acquired by Europe's largest private equity firm, EQT. "We are thrilled to have EQT as a major shareholder to support our strategic expansion and share our vision for growth," enthused Acronis's CEO, Ezequiel Steiner.

Some of those remaining investors include funds and accounts managed by CVC, Springcoast and BlackRock Private Equity Partners.

Acronis told The Register that in the transaction with EQT, it was valued above its last growth funding round in 2022.

The exact value of the deal was not disclosed, nor was the size of the chunk soon to be owned by EQT. What is known is that EQT expects the transaction to close in Q1 or Q2 2025, pending customary regulatory approvals.

The purchase reflects the increasing trend of private equity firms investing heavily in technology companies.

EQT also bought provider of enterprise-grade open-source solutions SUSE in 2018 for $2.5 billion.

News URL

https://go.theregister.com/feed/www.theregister.com/2024/08/07/eqt_buys_shares_acronis/