The demand for cybersecurity solutions continues to drive investment in the industry. A recent example of this trend is EQT’s acquisition of a majority stake in Acronis, a leading provider of data protection and cloud security solutions.
EQT Invests in Acronis, Valuing Company at Over $4 Billion
EQT has acquired a majority stake in Acronis, valuing the company at over $4 billion. This represents an increase from Acronis’s last disclosed valuation of $3.5 billion, which was achieved through an investment in 2022. The exact size and value of EQT’s stake are not being disclosed.
Acronis Continues to Grow Rapidly
Acronis has experienced significant growth over the past few years. In 2022, the company reported 5.5 million "home users" and 500,000 business customers. Today, its solutions are used by 20,000 service providers and over 750,000 businesses. The company’s cloud business is growing at an annual rate of 40%.
Acronis Has a Strong Track Record
Acronis has raised over $600 million in equity and debt funding prior to this latest investment. Its investors include BlackRock, CVC, and Goldman Sachs. Despite the significant investment, the company’s founders and existing investors will retain minority stakes.
Founders Will Focus on AI and Metaverse Applications
The founders of Acronis, Serg Bell and Stanislav Protassov, have stated that they will focus more on their other project, the Constructor Group, which explores applications in AI and the metaverse. They expressed confidence that Acronis is well-positioned to continue growing rapidly.
Acronis Has a Long History
Acronis was founded in 2003 as a spinoff of Parallels, a virtualization specialist from Russia. Over time, it expanded its offerings to include cloud security, endpoint protection, and more. Its competitors include Commvault, Veritas, and others.
Private Equity Continues to Drive M&A Activity
The deal between EQT and Acronis highlights the trend of private equity driving investment in enterprise technology companies at a time when the IPO window is largely closed.
Acronis Will Continue to Innovate
With EQT’s significant investment, Acronis will likely continue to innovate and expand its offerings. The company has a strong track record of growth and innovation, and with this latest investment, it is well-positioned for continued success.
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