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Insight Partners Says It Will Buy Cloud Company Veeam In $5 Billion Deal, Move Headquarters To U.S.

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The private equity exit will not come with layoffs at Veeam. Rather, the company expects to add jobs in the U.S.

at a 2018 Veeam conference that “there is not a single reason” to sell the company. But the company is now undergoing a shift to what Timashev calls “act two”: winning the hybrid cloud market, or the combination of on-premises data centers with cloud services such as AWS, Azure or Office 365.

Winning that battle is the impetus for Veeam’s transition to become a U.S. company. It is the market share leader in EMEA, per a 2018 IDC report, with about 55% of revenue coming from Europe, compared to 30% from North America. “We started the company around the 2007 financial crisis, so we decided to be very conservative for North America and we underinvested in terms of sales and marketing,” Timashev said.

 

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You mean VMWare? Hmmm... your product is proprietary roght need to pay? We had to settle for Oracle old school tech slow lame VirtualBox

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