Insight Partners Acquires Swiss Cloud Data Management Leader Veeam in a Transaction Valued at Approximately $5 Billion

January 9, 2020

Willkie represented longtime client Insight Partners in the acquisition that accelerates Veeam’s growth trajectory and expansion into adjacent markets.

On January 9, leading software investor Insight Partners announced it has entered into a definitive agreement to acquire backup solutions and data management leader Veeam Software in a transaction valued at approximately $5 billion. Under Insight’s ownership, Veeam, which has over $1 billion in annual sales and 365,000 customers worldwide, 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 will enable Veeam to accelerate its Act II (Veeam's evolution into Hybrid Cloud), expand into new markets and continue its growth trajectory.

The market leader in backup solutions and cloud data management, Veeam provides a single platform for modernizing backup, accelerating hybrid cloud and securing data to a global customer base that includes 365,000+ customers, including 81% of the Fortune 500 and 66% of the Global 2,000. Veeam's global ecosystem includes 70,000+ partners, including HPE, NetApp, Cisco and Lenovo as exclusive resellers. Currently headquartered in Baar, Switzerland, Veeam has offices in more than 30 countries.

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 of assets under management and has cumulatively invested in more than 300 companies worldwide.

The Willkie deal team was led by partners Morgan Elwyn and Ziyad Aziz.