The acquisition, which is expected to close during the first quarter of 2020, will enable Veeam to accelerate its Act II (Veeam\u2019s evolution into Hybrid Cloud), expand into new markets and continue its growth trajectory. As part of the acquisition, William H. Largent has been promoted to Chief Executive Officer (CEO) – he previously held the role of Executive Vice President (EVP), Operations \u2013 and Danny Allan has been promoted to Chief Technology Officer (CTO).<\/p>\n
Following an investment from Insight Partners at the beginning of 2019, Veeam, the clear market leader<\/a> with over 1 billion US dollars in annual sales and more than 365,000 customers worldwide, worked alongside Insight Partners\u2019 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)<\/em>, Veeam Backup for Microsoft Office 365 <\/em>v4, Veeam Universal License (VUL) and announcing Veeam Backup for Microsoft Azure<\/em> \u2013 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\u2019s already impressive growth trajectory and expansion into adjacent markets.<\/p>\n At the core of Veeam\u2019s strategy is delivering simplicity, flexibility and reliability to its global customer base (which includes 81% of the Fortune 500). During the last decade, Veeam\u2019s 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,<\/a> boast a consistent leadership position in the Forrester Wave and also named as one of Forbes\u2019 Cloud 100 companies for four straight years. According to the latest IDC Software Tracker<\/a>, 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 \u2013 core elements of its Act II. In the coming weeks, NEW Veeam Availability Suite v10<\/a> will be generally available, providing users with the most powerful software-defined data management solution in the industry.<\/p>\n \u201cIn a world where a business\u2019s 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\u2019s software provides holistic coverage for the modern business,\u201d Veeam\u2019s Danny Allan said. \u201cWhile Veeam\u2019s preeminence in the data management space, currently supporting 81% of the Fortune 500, is undeniable, this commitment from Insight Partners and deeper access to its unmatched business strategy and ScaleUp division, Insight Onsite, will bring Veeam\u2019s solutions to more businesses across the globe.\u201d<\/p>\n The Board of Directors will be immediately supplemented with seasoned software, government and business leadership as co-investor Nick Ayers, of Ayers Neugebauer & Company, a member of the World Economic Forum\u2019s Young Global Leaders and former Chief of Staff to the Vice President of the United States, joins Insight Partners Managing Director Mike Triplett and Veeam CEO, William H. Largent on the Board. Following the acquisition, Co-Founders Andrei Baronov and Ratmir Timashev will step down from the Board. Additionally, Insight Partners Managing Directors Ryan Hinkle and Ross Devor will each serve on the Board once the acquisition has been completed.<\/p>\n Goldman Sachs & Co., J.P. Morgan and Morgan Stanley<\/strong> served as financial advisors, and Willkie Farr & Gallagher LLP served as legal counsel, to Insight Partners<\/strong>.\u00a0Ropes & Gray LLP served as legal counsel to Veeam. Financing commitments for the transaction provided by affiliates of J.P. Morgan, Goldman Sachs & Co., Morgan Stanley, Ares Management, Bank of America, Golub Capital and Antares Capital.<\/p>\n About Insight Partners<\/strong><\/p>\n Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over 20 billion USD dollars of assets under management and has cumulatively invested in more than 300 companies worldwide. Insight\u2019s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Leading software investor Insight Partners announced recently that it has entered into a definitive agreement to acquire Veeam Software, the leader in Backup solutions that deliver Cloud Data Management, in a five billion US dollars\u2019 deal. Under the ownership of […]<\/p>\n","protected":false},"author":2,"featured_media":1151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[19,3,5],"tags":[272,150],"_links":{"self":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/1148"}],"collection":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1148"}],"version-history":[{"count":1,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/1148\/revisions"}],"predecessor-version":[{"id":1154,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/1148\/revisions\/1154"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/media\/1151"}],"wp:attachment":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"http:\/\/outsourcing-today.ro\/wp-content\/uploads\/2020\/01\/William-Veeam-300x204.jpg\")
\u201cVeeam has enjoyed rapid global growth over the last decade and we see tremendous opportunity for future growth, particularly in the U.S. market.\u00a0With 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,\u201d <\/em>said William H. Largent, CEO at Veeam<\/strong>.\u00a0\u201cVeeam 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 unrivalled pace<\/em>.\u201d<\/p>\n![\"\"](\"http:\/\/outsourcing-today.ro\/wp-content\/uploads\/2020\/01\/triplett_gray.jpg.web_.1280.1280-300x161.jpg\")
\u201cVeeam\u2019s 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,\u201d <\/em>Insight Partners Managing Director and Veeam Board member Mike Triplett<\/strong> said. \u201cVeeam\u2019s 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\u2019s next phase of leadership and growth in the United States, continued market-share leadership position in EMEA, and continued global expansion.<\/em>\u201d<\/p>\n