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Insight Partners Closes USD 5bn Acquisition of Veeam
Friday 06 March 2020

6 March 2020 - US-based software investor Insight Partners has closed the acquisition of Swiss cloud data management provider Veeam Software, in a transaction valued at approximately USD 5bn, the company said.

Under the ownership of Insight Partners, Veeam 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.

Following an investment from Insight Partners at the beginning of 2019, Veeam worked alongside Insight Partners' business strategy and ScaleUp division, Insight Onsite, to expand its software-defined Veeam Cloud Data Management Platform.

Financing commitments for the transaction provided by affiliates of J.P. Morgan, Goldman Sachs and Co., Morgan Stanley, Ares Management, Bank of America, Golub Capital and Antares Capital.
Insight Partners is a 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 USD 20bn of assets under management and has cumulatively invested in more than 300 companies worldwide.

Veeam Software is a provider of Backup solutions that deliver Cloud Data Management. Veeam provides a single platform for modernising backup, accelerating hybrid cloud and securing data.

With 365,000+ customers worldwide, including 81% of the Fortune 500 and 66% of the Global 2,000, Veeam customer-satisfaction scores are the highest in the industry at 3.5x the average.

Goldman Sachs and Co., J.P. Morgan and Morgan Stanley served as financial advisors, and Willkie Farr and Gallagher LLP served as legal counsel, to Insight Partners. Ropes and Gray LLP served as legal counsel to Veeam.
Date Published: 06/03/2020
Target: Veeam Software
Country: Switzerland
Deal Size: 5bn (USD)
Sector: Computer Software
Type: LBO
Financing: Cash
Status: Closed
Buyer: Insight Partners
Buyer Advisor: Goldman Sachs and Co , J.P. Morgan , Morgan Stanley , Willkie Farr and Gallagher