On January 9, 2020, Veeam announced that it has entered into a definitive agreement of purchase with Insight Partners, and the deal is expected to finalize in the first quarter of 2020.
Cofounders Ratmir Timashev and Andrei Baronov will be stepping down from the board of directors. According to the Veeam website, they will retain senior leadership roles. William H. Largent has been promoted to CEO and board chairman.
The acquisition is the second one in rapid succession for Insight Partners: On January 6, the company confirmed it had purchased Armis Security for US$1.1 billion. That same day, Veeam announced that Danny Allan had been promoted to the role of CTO while retaining his Vice President of Product Strategy responsibilities.
Under the acquisition, Veeam, which is currently based in Switzerland, becomes an American company with a US-based leadership team.
The soon-to-be-merged organizations are no strangers to each other. In partnership with Insight Partners, Veeam released some key improvements in 2019, including Veeam Backup for AWS, Microsoft Office 365, and Microsoft Azure.
Source: Veeam Availability Suite at SoftwareReviews. Accessed January 10, 2020.
Insight Partners’ acquisition of Veeam adds a strong performer to its portfolio.
With its track record of focusing on cloud-based and security solutions, it just might be acquiring one of the key products you’re using today.
Although Insight Partners seems to let these companies stand on their own, we believe there would be value in integrating capabilities. Recorded Future (acquired in May 2019) brings the ability to introduce machine learning, analytics, and cybersecurity, while the recently acquired Armis Security would augment cybersecurity in the Internet of Things (IoT) space.
Earlier acquisitions of Diligent (February 2016) and Resolve Systems (May 2017) also lend themselves to building on one truly complete solution set under the Veeam umbrella.
If Insight Partners were to pull all the key components together, it could create a Veeam that would truly beat the likes of Veritas and Commvault. While Insight Partners clearly is still assembling its many puzzle pieces into a cohesive whole, and the narrative remains subject to change, 2020 is already shaping up to be a fascinating chapter for the organization. It’s most certainly a company to watch.
Zerto 7.5 adds support for Azure Active Directory Managed Service Identity (MSI), which simplifies authentication to Azure services while improving security.
Quest Software’s NetVault Backup v12.4 release adds support for OneDrive to its existing Office 365 (O365) backup capabilities, enabling its customers to better align backup strategy to business requirements, and helping Quest Software keep up with other O365 backup offerings.
Veeam has rolled out new backup features that integrate with Amazon S3 to help users save on storage costs for their backups. This tech is some serious secret sauce.
HPE has ported over InfoSight Predictive Analytics platform from its 2017 acquisition of Nimble to its SimpliVity line, adding AI to the hyperconverged infrastructure (HCI), as announced in an Oct. 28 press release.
Veeam is still running strong in the enterprise and cloud backup markets two business quarters into its 2019 fiscal year. Veeam has announced its second quarter results and the numbers are still impressive.
Cyberattacks are terrible and require the same dedication to overcome them as would any other disaster response effort. Just like natural disasters, cyberattacks cause millions of dollars in damage, disrupt infrastructure, and impede citizens from their daily lives.
Zerto has enhanced its Azure integration to reduce achievable RTOs and recovery cost. Specifically, Zerto’s latest release leverages Azure’s native Virtual Machine Scale-Sets to reduce overhead, speed up recovery, and minimize additional costs incurred during recovery.
At VeeamON 2019, Veeam announced it had achieved $1billion in annual bookings. The software company attributes success to its ability to take advantage of Act 1: Virtualization of the Data Center; now it is gearing up for what it predicts will be Act 2: Hybrid Cloud.
Cohesity is the first backup solution to provide native integration with Google Cloud Platform (GCP). This is good for the partners and will give competitors pause.