{"id":112233,"date":"2020-01-11T15:01:42","date_gmt":"2020-01-11T20:01:42","guid":{"rendered":"http:\/\/rbach.net\/?p=112233"},"modified":"2022-03-19T16:19:35","modified_gmt":"2022-03-19T20:19:35","slug":"veeam-backup-bought","status":"publish","type":"post","link":"https:\/\/rbach.net\/index.php\/veeam-backup-bought\/","title":{"rendered":"Veeam Backup Bought"},"content":{"rendered":"

I\"Veeam<\/a>n a move to improve its U.S. market share, Veeam Software<\/a><\/strong> has agreed to be bought<\/strong> by private equity<\/strong> firm Insight Partners<\/a><\/strong>. The deal valued a $5 billion, is Insight\u2019s second major acquisition of 2020<\/a>. Veeam is cloud-focused data protection, backup, and disaster recovery<\/strong> software company.<\/p>\n

Backup, and disaster recovery company.<\/h3>\n

\"Veeam<\/a>Veeam was founded in 2006 and owned by Russians<\/strong> Andrei Baronov and Ratmir Timashev. The firm has grown to 365,000 customers worldwide and annual sales of more than $1 billion by capitalizing on the VMware-led server virtualization boom<\/strong>. As part of the take-over, the founders will leave the firm and Veeam will become a U.S. company<\/strong> based in New York. The company had been based in Baar, Switzerland.<\/p>\n

Veeam’s products include backup solutions, cloud security offerings, and cloud data management<\/strong>. Veeam’s cloud data management portfolio consists of Veeam Backup for Amazon Web Services<\/strong><\/a> (AWS), Veeam Backup for Microsoft Office 365<\/strong><\/a>, Veeam Universal License<\/a> (VUL), and Veeam Backup for Microsoft Azure<\/strong><\/a>.<\/p>\n

Private equity plans<\/h3>\n

\"Veeam'sThe private equity company has a three-stage program to help the companies in which it invests grow, including the Startup stage of focused on companies looking for early growth in their markets, the ScaleUp stage for companies with strong businesses, and the Corporate stage for companies ready for IPOs or other exits, Mike Triplett, a managing director of Insight Partners and new Veeam board member told<\/a> CRN<\/a><\/em>.<\/p>\n

ZDNet<\/a><\/em> says<\/a> Veeam is in the second “ScaleUp” stage as customers are now also utilizing hybrid cloud<\/strong> setups with AWS, Azure, IBM, and Google, the firm’s “Act II” is to capitalize on a growing need for cloud data management across these environments. Mr. Triplett claims Insight Partners can bring the right resources to bear to move Veeam from the “ScaleUp” stage to the “Corporate” stage.<\/p>\n

Other Insight Partners investments<\/h3>\n

\"Insight<\/a>Insight Partners also owns other data protection companies<\/strong> \u2014 including Unitrend<\/strong>s<\/a>\u00a0and\u00a0Spanning<\/a>. In addition to data protection, the VC has invested heavily in cybersecurity and MSP-friendly technology markets. Other key Insight Partners investments include:<\/p>\n