Veeam Software today announced that Insight Partners has completed its acquisition of the company, which was announced on January 9, 2020, at a valuation of approximately $5 billion. Following an investment from Insight Partners at the beginning of 2019, the acquisition of Veeam will drive accelerated growth in the U.S market.
In addition to enabling Veeam to accelerate its Act II, the company will move the company’s headquarters to the U.S. from Switzerland and add strength and experience to its executive team. As part of the acquisition, the following appointments have been made:
• William H. Largent has been promoted to Chief Executive Officer (CEO). He previously held the role of Executive Vice President (EVP), Operations.
• Danny Allan has been promoted to Chief Technology Officer (CTO).
• Gil Vega, previously Managing Director and CISO at CME Group, Inc. and the Associate Chief Information Officer & CISO for the U.S. Department of Energy and U.S. Immigration & Customs Enforcement in Washington, DC, has been appointed Chief Information Security Officer (CISO).
• Nick Ayers, of Ayers Neugebauer & Company, a member of the World Economic Forum’s Young Global Leaders and former Chief of Staff to the Vice President of the United States, joins Insight Partners Managing Directors Mike Triplett, Ryan Hinkle, and Ross Devor on the Veeam Board of Directors.
“Veeam has become the No. 1 market share leader in EMEA over the past decade, where approximately 50% of our current business comes from,” said Danny Allan, CTO at Veeam. “With the Insight acquisition completed today and our recent release of the new Veeam Availability Suite v10 – the next generation of data protection – we have our sights set on extending that leadership position into the US, where we can leverage the growth opportunity for cloud data management in the enterprise.”
