Insight Partners concludes Veeam’s $5 billion acquisition

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Sienna Rowley
Sienna is an editor at Cloud Host News. She is an internet enthusiast, always eager to explore the latest trend in the tech space. In her free time, she is a modest family woman who loves traveling.

We Know that Veeam is a backup solutions provider that provides Cloud Data Management. Early 2020 Veeam announced that they acquired by Insight Partners for $5 billion. Now Insight Partners concludes Veeam’s $5 billion acquisition recently the following investment from Insight Partners at the start of 2019. The company Veeam is the market chief, with over $1 billion in yearly deals. The company has more than 365,000 customers around the world. The investment from Insight Partners will boost the market in the US.

Changes made regarding Executives

Bill Largent, CEO at Veeam says that Insight Partners is a trusted partner. They made their first small investment. To boost business, the company will shift headquarters. The headquarters will be shifted from Switzerland to Us. The company will add strength and experience to the team. The following changes made regarding executives.

  • William H. Largent who was previously holding the role of Executive Vice President (EVP), Operations. Promoted to Chief Executive Officer (CEO)
  • Danny Allan promoted to Chief Technology Officer (CTO)
  • Gil Vega, who was previously Managing Director (MD) and CISO at CME Group, Inc. and the Associate Chief Information Officer & CISO for the U.S. Department of Energy and U.S. Immigration & Customs Enforcement in Washington, DC, has now been appointed Chief Information Security Officer (CISO).
  • Nick Ayers, of Ayers Neugebauer & Company, a member of the reputed World Economic Forum’s. Young Global Leaders and former Chief of Staff to the Vice President of the United States joins Insight Partners. Managing Directors Mike Triplett, Ryan Hinkle, and Ross Devor on the Veeam Board of Directors.

Crawford Del Prete President at IDC says the future of cloud computing is hybrid. The data is created, stored, managed across various platforms and environments. Veeam has constantly addressed the problems that customer face with data management and promised to resolve it.

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