EQT AB has unveiled plans to acquire a majority stake in Acronis, a cybersecurity and data protection platform, as part of its strategic initiative to bolster the company’s growth and enhance its market footprint.
The transaction, facilitated through the EQT X fund, will see EQT take a controlling interest in Acronis, while the company’s founders, management, and existing investors—including CVC, Springcoast, and BlackRock Private Equity Partners—will retain significant minority stakes.
The valuation of Acronis in this deal surpasses the company’s last funding round in 2022, Business News Asia reported.
Acronis, established in 2003, has emerged as a pivotal player in the IT solutions market, particularly among Managed Service Providers (MSPs) and corporate IT departments.
The company offers an integrated cybersecurity and data protection platform that has gained increased importance in the face of rising data volumes and escalating cyber threats.
Acronis’ solutions enable businesses to outsource critical IT functions while maintaining robust standards of data security, integrity, and reliability.
Operating out of 15 offices worldwide and employing over 1,700 professionals, Acronis has a vast network that spans more than 150 countries.
The company’s services are utilized by over 20,000 service providers, which together protect more than 750,000 businesses globally.
This extensive network positions Acronis for continued rapid expansion as it capitalizes on the growing demand for comprehensive cybersecurity and data protection solutions.
“EQT has closely followed Acronis’ journey over the years and remains impressed by its performance and innovative capabilities,” said Johannes Reichel, Partner and Co-Head of Technology within EQT’s Private Equity advisory team. “We are very excited to partner with Acronis, its management team, and existing investors in this next phase of growth.”
Ezequiel Steiner, CEO of Acronis, echoed this sentiment, expressing enthusiasm about the partnership with EQT. He said:
We are thrilled to have EQT as a major shareholder to support our strategic expansion and share our vision for growth.
He also acknowledged the ongoing support from existing investors and the dedication of the Acronis team, which has been instrumental in reaching this stage of the company’s development.
Industry analysts have also recognized the significance of Acronis’ product offerings. Phil Goodwin, research vice president at IDC, emphasized the growing integration of data protection and cybersecurity.
“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 with simplicity and reliability,” Goodwin noted.