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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Insight Partners’ acquisition of Veeam was announced in January 2020 and completed on March 2, 2020. Veeam said the transaction was valued at approximately $5 billion. The figure describes a historical deal—not a pending acquisition—and the companies did not disclose its detailed financial structure.
Did Insight Partners’ acquisition of Veeam close?
Yes. Insight Partners announced a definitive agreement to acquire Veeam Software on January 9, 2020. Veeam said at the time that it expected the deal to close in the first quarter of that year; on March 2, 2020, the company announced that the transaction had been completed. Veeam’s January 2020 announcement and completion announcement establish the agreement and closing dates.
What did the deal cost?
Veeam described the transaction’s valuation as approximately US$5 billion in its 2020 announcements. That is the reported valuation, not a disclosed breakdown of the purchase price or financing. The official materials reviewed do not explain the deal’s detailed financial construction; Veeam’s transaction FAQ said further details about the structure would not be disclosed.
Why did Insight Partners buy Veeam?
The companies framed the deal as a way to support Veeam’s next stage of growth. Veeam described its planned “Act II” as an evolution toward hybrid cloud and said the transaction would help it expand in the United States and develop additional cloud-native products. These were the parties’ stated aims in 2020, not evidence that every goal was later achieved. Veeam’s announcement set out the strategic rationale.
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What changed for Veeam?
Veeam said it would move its headquarters from Switzerland to the United States. Its March 2020 completion announcement named William H. Largent as CEO and Danny Allan as CTO, among other leadership changes. Those are details from the closing announcement and should not be read as a statement about who holds those roles today.
In describing the company at the time of the transaction, Veeam called itself a provider of backup solutions for cloud data management. The acquisition materials tied its plans to hybrid cloud and further cloud-native products, so “data center backup firm” is a shorthand for the business as described in 2020—not a complete account of its current products.
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How large was Veeam at the time?
In its 2020 transaction announcement, Veeam reported more than US$1 billion in annual sales and over 365,000 customers worldwide. These are company-reported figures, not independently verified measures in the announcement. Veeam’s announcement provides the figures and its description of the business.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Insight Partners’ relationship with Veeam
The acquisition followed an existing relationship: Veeam CEO Bill Largent said in the completion announcement, “Insight has been a trusted partner since 2013 when they made their first minority-stake investment in Veeam.” The statement places the 2020 transaction after Insight’s earlier minority investment; it does not provide the terms of that investment.
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