EQT, a global investment organization, has announced its acquisition of a majority stake in Acronis, a leading cybersecurity and data protection platform for Managed Service Providers (MSPs) and corporate IT departments. The deal values Acronis at over $3.5 billion, marking a significant milestone in the cybersecurity sector.
Key Takeaways
EQT acquires a majority stake in Acronis, valuing the company at over $3.5 billion.
Acronis specializes in cybersecurity and data protection for MSPs and corporate IT departments.
The transaction is expected to close in Q1-Q2 2025, pending regulatory approvals.
Founders and existing investors will retain significant minority stakes.
Acronis: A Leader in Cybersecurity and Data Protection
Founded in 2003, Acronis has established itself as a premier IT solutions vendor for Managed Service Providers. The company offers a natively integrated, highly efficient cybersecurity and data protection platform. With data and workloads growing exponentially, Acronis enables customers to outsource IT capabilities while ensuring high standards of data security, integrity, and reliability.
Acronis operates through a vast network of over 20,000 Service Providers, protecting more than 750,000 businesses across 150 countries. The company has 15 offices worldwide and employs over 1,700 people.
The Strategic Partnership with EQT
EQT's acquisition of a majority stake in Acronis is built upon a shared vision for growth and a commitment to accelerating the expansion of Acronis' platform. Johannes Reichel, Partner and Co-Head of Technology within EQT’s Private Equity advisory team, expressed excitement about the partnership, highlighting Acronis' strong market position and innovative capabilities.
Ezequiel Steiner, CEO of Acronis, echoed this sentiment, expressing gratitude to existing investors and the Acronis team for their contributions. He emphasized that EQT's support would be instrumental in driving Acronis' strategic expansion.
Financial and Market Context
While the exact size and value of the stake were not disclosed, the deal values Acronis higher than its last disclosed valuation of $3.5 billion in 2022. Some sources suggest the valuation could be around $4 billion. Acronis has shown impressive growth, with its cloud business' annual recurring revenue growing at 40%.
The company has raised over $600 million in equity and debt over the years, with investors including BlackRock, CVC, and Goldman Sachs. Founders Serg Bell and Stanislav Protassov will retain material stakes in the company.
Future Prospects and Market Trends
The acquisition underscores the growing trend of private equity firms investing heavily in technology companies, particularly in the cybersecurity sector. With the increasing frequency and sophistication of cyber threats, the demand for robust cybersecurity solutions continues to rise.
Acronis' comprehensive product suite, which includes continuous data protection, cloud security, endpoint protection, and more, positions it well to capitalize on this demand. The company's innovative use of artificial intelligence to detect and mitigate cyber threats further enhances its value proposition.
The partnership between EQT and Acronis marks a significant development in the cybersecurity landscape. With EQT's support, Acronis is well-positioned to continue its rapid growth and innovation, providing essential cybersecurity and data protection solutions to businesses worldwide.
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Sources
EQT logo, EQT.
EQT takes a majority stake in cybersecurity firm Acronis at $3.5B+ valuation | TechCrunch, TechCrunch.
EQT buys majority share in cybersecurity outfit Acronis • The Register, The Register.
EQT to acquire majority stake in cybersecurity firm Acronis at $3.5B+ valuation - SiliconANGLE, SiliconANGLE.
EQT inks deal for cybersecurity biz Acronis, PE Hub Europe.
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