The high-profile Swiss cloud data management and backup solutions company is slated to become an American business after the acquisition.
Cloud data management software company Veeam has been known to follow a strategy for delivering simplicity, flexibility and reliability to its global customer base, which famously includes 81% of the Fortune 500.
During the last decade, Veeam’s approach has seen it collect more than 170 industry awards, named as a leader in three consecutive backup and data recovery Magic Quadrants by Gartner, boast a consistent leadership position in the Forrester Wave and also get named as one of Forbes’ Cloud 100 companies for four straight years.
Veeam delivers 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.
Following an investment from Insight Partners at the beginning of 2019, Veeam had 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 (AWS), Veeam Backup for Microsoft Office 365 v4, Veeam Universal License (VUL) and announcing Veeam Backup for Microsoft Azure—growing its share of the US market and global market.
Now, Insight Partners has announced that it has entered into a definitive agreement to acquire Veeam Software. Under the ownership of Insight Partners, Veeam will become a US company, with a US-based leadership team, while continuing its global expansion from offices in 30 countries and with customers in over 160 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.
As part of the acquisition, William H. Largent, formerly the executive VP of operations, has been promoted to Chief Executive Officer (CEO), and Danny Allan has been promoted to Chief Technology Officer (CTO).
Said William H. Largent, CEO at Veeam: “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. We believe this acquisition will allow us to scale our team and technology at an unrivaled pace.”
Veeam’s Danny Allan said: “In a world where a business’s most valuable asset, its data, is constantly on the move and being created at unprecedented rates, data management has never been more critical, and more complex. Legacy solutions cannot keep up. Veeam’s software provides holistic coverage for the modern business. This commitment from Insight Partners and deeper access to its business strategy and ScaleUp division, Insight Onsite, will bring Veeam’s solutions to more businesses across the globe.”
Insight Partners Managing Director and Veeam Board member Mike Triplett said: “We are committed to supporting Veeam’s next phase of leadership and growth in the United States, continued market-share leadership position in Europe, the Middle East and Africa, and continued global expansion.”