August 7, 2024 at 06:15AM
Swiss disaster recovery and cybersecurity firm, Acronis, has been majority acquired by Europe’s largest private equity firm, EQT. Acronis’s CEO, Ezequiel Steiner, expressed enthusiasm about this partnership and acknowledged existing investors. The deal is estimated at $3.5 billion, with the transaction expected to close in Q1 or Q2 2025. Co-founders Serg Bell and Stanislav Protassov will retain a stake in the company.
From the meeting notes, I have gathered the following key takeaways:
– Acronis, the Swiss disaster recovery turned cybersecurity firm, has been acquired by Europe’s largest private equity firm, EQT.
– Acronis’s CEO, Ezequiel Steiner, expressed excitement about having EQT as a major shareholder, emphasizing their support for strategic expansion and growth.
– While the exact value of the deal was not disclosed, Acronis was valued above its last growth funding round at an estimated $3.5 billion.
– Founders Serg Bell and Stanislav Protassov will retain a material stake in the company and focus on AI-infused research and educational tools through their platform, Constructor Tech Platform.
– The transaction with EQT is expected to close in Q1 or Q2 2025, pending regulatory approvals, reflecting the trend of private equity firms investing heavily in technology companies.
If you need any further details or analysis, please let me know!