Veeam Acquisition by Insight Partners
Things have certainly been changing over the last couple of years at Veeam, whilst they work on their Act II and transform themselves truly from just a backup vendor to being an all encompassing Cloud Data Management solution.
On 9th January 2020, it was announced that Insight Partners would acquire Veeam for approximately $5 Billion US Dollars. You may have seen that Veeam had published their annual revenue back in May 2019 as reaching $1 Billion US Dollars. In the process of the acquisition a number of changes have occurred with regards to the board of directors and senior positions. It’s a shame to see Ratmir Timashev and Andrei Baronov step down from the board and therefore it is unknown what involvement the two co-founders will have in the future of Veeam.
On the top step of the management team, we see William H. Largent being promoted to Chief Executive Officer (CEO) – from his previous position of Executive Vice President (EVP), Operations. This comes only a couple of days after Danny Allen was appointed Chief Technology Office (CTO) and Senior Vice President (SVP) of Product Strategy.
If we look a little further back into 2019, we can also see that Jim Kruger was appointed as Chief Marketing Officer back in October. Alistair MacIntyre-Currie was appointed as Vice President of Field Marketing for APJ back in July. Chuck Garner was appointed as Chief Financial Officer back in May.
That is quite a significant number of senior leadership changes in a short period of time… we’ll have to wait and see whether this helps or hinders Veeam.
As part of the acquisition, Veeam will also become a US company.
With the latest version of Veeam Availability Suite due to be launched soon, this could be the last product developed as truly Veeam. As a long time user of Veeam products and one of the first users of Veeam Backup & Replication in the UK… I’ll certainly be keeping an eye on the future of Veeam with great interest.
https://www.veeam.com/insight-partners-to-acquire-veeam.html