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Veeam shakes up exec team after Insight Partners acquisition

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 03 Mar 2020
William H Largent has been promoted to Veeam CEO.
William H Largent has been promoted to Veeam CEO.

Private equity firm Insight Partners has completed its $5 billion acquisition of backup and disaster recovery solutions provider Veeam and has made new executive appointments.

Last month, Insight Partners entered into a definitive agreement with Veeam following an investment from the software investor at the beginning of 2019.

According to a statement, under the ownership of Insight Partners, Veeam will move its headquarters to the US from Switzerland, while continuing its global expansion.

Veeam has over 365 000 customers in more than 160 countries worldwide and 66 000 channel partners, with offices in more than 30 countries, including a South African business unit to service the continent.

As part of the acquisition, Veeam has made several new appointments.

William H Largent, who previously held the role of EVP of operations at Veeam, has been promoted to CEO. Danny Allan has been promoted to CTO,from his previous role as VP of product strategy.

Gil Vega, previously MD and CISO at CME Group, and the associate CCIO and CISO for the US Department of Energy and US Immigration and Customs Enforcement in Washington DC, has been appointed to CISO.

Veeam’s acquisition comes as the company cemented its status as a billion-dollar software firm after it exceeded $1 billion in annual revenue bookings last year.

“Insight has been a trusted partner since 2013, when they made their first minority-stake investment in Veeam,” says Largent.

”They are known for taking high-growth international companies and driving their success in the US market, where they can add invaluable resources, support and expertise. Veeam is positioned extremely well in the market and Insight is the right partner to help us achieve the next level of growth for our Act II, evolution into hybrid cloud, and the right time starts today.”

Nick Ayers, of Ayers Neugebauer & Company, a member of the World Economic Forum’s Young Global Leaders and former chief of staff to the VP of the US, joins Insight Partners’ managing directors Mike Triplett, Ryan Hinkle and Ross Devor on the Veeam board of directors.

“Veeam has become the number one market share leader in EMEA over the past decade, where approximately 50% of our current business comes from,” notes Allan.

“With the Insight acquisition completed today and our recent release of the new Veeam Availability Suite v10 – we have our sights set on extending that leadership position into the US, where we can leverage the growth opportunity for cloud data management in the enterprise.”

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