EQT AB has announced plans to acquire a majority stake in Acronis, a cybersecurity and data protection platform, as part of its strategy to enhance the company’s growth and market presence.
The transaction will see EQT X fund take a controlling interest, with founders, management, and existing investors, including CVC, Springcoast, and BlackRock Private Equity Partners, retaining significant minority stakes. The valuation exceeds Acronis’ last funding round in 2022.
Founded in 2003, Acronis provides Managed Service Providers (MSPs) and corporate IT departments with an integrated cybersecurity and data protection platform.
The company’s services have become increasingly critical as businesses recognize the importance of data security amid growing data volumes and cyber threats.
Acronis’ solutions enable customers to outsource IT functions while maintaining high standards of data integrity and reliability.
With 15 offices globally and over 1,700 employees, Acronis operates in more than 150 countries, serving over 20,000 service providers and protecting upwards of 750,000 businesses.
The company’s extensive network positions it well for continued rapid expansion.
“EQT has followed the company’s journey for many years and continues to be impressed by its performance and innovative strength. We are very excited to partner with Acronis, the management team, and existing investors on its next phase of growth,” said Johannes Reichel, Partner and Co-Head of Technology within EQT’s Private Equity advisory team.
Ezequiel Steiner, CEO of Acronis, expressed enthusiasm about the new partnership, stating, “We are thrilled to have EQT as a major shareholder to support our strategic expansion and share our vision for growth. We would like to thank our existing investors for their support to date and are pleased that many will remain invested as we move forward. But most of all, I’d like to thank the Acronis team for their work in getting us to this stage.”
Phil Goodwin, research vice president at IDC, highlighted the significance of Acronis’ product offerings, noting, “Data protection is foundational to cybersecurity, and the two are increasingly tightly integrated. Acronis’ architecture of integrated data protection, cybersecurity, and remote management in a single, customizable platform enables MSPs and corporate IT departments to establish robust cyber preparedness for their business with simplicity and reliability.”
The completion of the transaction is subject to customary regulatory approvals and is expected in the first half of 2025. Legal advisors for EQT included Milbank and Bär & Karrer.
Upon completion, EQT X is expected to be 40-45 percent invested, accounting for closed, signed investments, and announced public offers, less any expected syndications.
Business News Asia