Private equity firm Insight Partners has just acquired cloud data management firm Veeam at a valuation of approximately $5 billion.

Under the ownership of Insight Partners, Veeam will become a U.S. company and move its headquarters to the U.S. from Switzerland with the following changes in leadership:

  • 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.

“Insight has been a trusted partner since 2013 when they made their first minority-stake investment in Veeam. They are known for taking high-growth international companies and driving their success in the U.S. market, where they can add invaluable resources, support and expertise,” said Largent, now CEO at Veeam.

“Veeam is positioned extremely well in the market and Insight is the right partner to help us achieve the next level of growth for our Act II, evolution into Hybrid Cloud, and the right time starts today.”

The company launched a number of new Backup innovations in 2019 which include Veeam Backup for AWS, Veeam Backup for Microsoft Office 365 v4, Veeam Universal License (VUL) and announced the Veeam Backup for Microsoft Azure thus, growing its share of the U.S. market.

In January, iland said it is providing additional opportunities via its new 10th cloud region to its existing North American channel partners and is actively engaging new partners in the region, especially those with customers using VMware and Veeam solutions.