Veeam, a provider of backup solutions for cloud data management, has announced that Insight Partners has completed its previously announced acquisition of the company in a deal worth around five billion US dollars.
Following an investment by Insight Partners in early 2019, the acquisition of Veeam will accelerate growth in the US market.
"Insight has been a reliable partner of Veeam since the first minority investment in 2013"
explains Bill Largent, CEO of Veeam.
"They are known for bringing valuable resources, support and experience to the table. Insight is the right partner to help us take the next step in our growth towards the hybrid cloud."
Danny Allan, CTO of Veeam, adds:
"Veeam has become the market leader in EMEA over the last ten years. With the completed acquisition by Insight, we now want to extend this leadership position to the US and capitalize on the growth opportunities in cloud data management for large enterprises."