Cybersecurity remains a sizzling hot topic for traders, with its importance only continuing to intensify. Private equity firm Within the newest instance has acquired a significant majority stake in Acronis, a leading provider of data security solutions specializing in knowledge protection, cloud-based, and embedded security options for managed service providers and corporate IT teams.
The valuation and value of the stake, along with the enterprise value of Acronis, will remain undisclosed. EQT and Acronis claim the agreement surpasses the latter’s previously disclosed valuation of $3.5 billion, driven mainly by an investment in.
Acronis reports that its solutions currently support more than 750,000 businesses worldwide, as well as 20,000 service providers. By the end of 2022, the company claimed to have secured approximately 5.5 million residential customers and a substantial 500,000 business clients; this figure was corroborated by data from 2021, which showed that the organization had established partnerships with around 10,000 service providers worldwide. The number of workers has increased to 2,000, up from 1,700 in 2022. According to Acronis’ President Gaidar Magdanurov’s conversation with TechCrunch, the company’s cloud enterprise annual recurring revenue has been growing at a rate of 40% annually.
In 2021, the corporation told TechCrunch that the investment was worthwhile. Throughout its history, the company has successfully secured more than $600 million in funding from a combination of equity and debt investments prior to this latest transaction. These investors are represented by prominent firms such as BlackRock, CVC, and Goldman Sachs.
“The founders, administration, and several existing traders, along with minority investors BlackRock, CVC, and SpringCoast, will maintain their stake,” Magdanurov told TechCrunch. The company’s co-founders, Serg Bell – previously known as Serguei Beloussov – and Stanislav Protassov, will maintain a significant equity interest in the organization.
The recent declaration has been a significant step forward. “We’ve consistently sought out a partner who shares our values and embodies Acronis’s spirit, said Bell.” As the cybersecurity landscape evolves at an unprecedented pace, it’s clear that Acronis stands out as the premier platform for service providers seeking to safeguard and optimize their customers’ digital infrastructure.
As their entrepreneurial journey progresses, the two co-founders will redirect their attention to another venture they’ve nurtured, the Constructor Group, where they will concentrate on harnessing AI and metaverse technologies.
At an unprecedented juncture where the initial public offering (IPO) market remains largely inaccessible, the prolonged negotiation process surrounding this deal serves as a poignant reminder that private equity exits remain a prevalent option for technology companies seeking to capitalize on their intellectual property assets.
Founded in 2003, Acronis originated in Singapore before relocating to Switzerland. Originally, the entity emerged as an offshoot of Russian-based Parallels, a virtualization expert, focusing on knowledge recovery and backup initiatives. As the years have passed, this entity has evolved to become a comprehensive solutions provider, encompassing expertise in knowledge security, cloud security, endpoint security, patch management, anti-malware, and numerous other essential areas. Its main competitors include Commvault, Veritas, among others.
Acronis will continue to operate smoothly, bolstered by the significant investment from EQT.
“We’re delighted to welcome EQT as a significant investor, one that will support our strategic expansion and share our vision for growth,” said Ezequiel Steiner, CEO of Acronis, in a statement. “We would like to express our sincere gratitude to our existing traders for their support thus far, and we’re thrilled that many of them will continue their investment journey with us as we move forward.” I would like to extend my heartfelt gratitude to the entire Acronis team for their tireless efforts and dedication that have brought us to this milestone.
“A powerful player in the cybersecurity and data safety space, Acronis boasts a clear value proposition that resonates strongly with managed service providers,” stated Johannes Reichel, partner and co-head of technology at EQT’s private equity team. The advisory committee noted that EQT has been following the company’s transformation path for several years, consistently demonstrating its admiration for the corporation’s adaptability and forward-thinking approach to energy production. We’re thrilled to collaborate with Acronis as we embark on its next phase of growth.