Veeam

Insight Partners Says It Will Buy Cloud Company Veeam In $5 Billion Deal, Move Headquarters To U.S.

Private equity firm Insight Partners said Thursday it will acquire data management company Veeam in a deal valued at $5 billion that will move the Swiss software maker’s headquarters to the United States and install a new executive team as it pivots into a new market.

“It’s rare to find a company of this size that still has a huge amount of room in terms of growth potential,” said Mike Triplett, a managing director at Insight Partners who sits on the Veeam board. The New York-based venture capital and private equity firm led Veeam’s $500 million funding round last January. It declined to disclose further financial details about Thursday’s transaction. Triplett will be joined on the board by two other directors from Insight Partners, as well as Nick Ayers, the former chief of staff to Vice President Mike Pence…

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