Sweden’s EQT takes majority stake in Switzerland’s Acronis
Key boost for cybersecurity and data protection industry
EQT, the Swedish global investment organisation, intends to acquire a majority stake in Acronis, the global provider of integrated IT solutions for Managed Service Providers (MSPs) and corporate enterprises. The move values Acronis above its most recent growth funding round, worth $3.5 billion in 2022.
The acquisition by EQT X fund (EQT) is anticipated to close in the first half of 2025, pending customary regulatory approvals. It signifies a significant milestone in Acronis’ growth journey and highlights EQT’s commitment to investing in high-growth, technology-driven companies. EQT is the largest European private equity firm.
Under the terms of the agreement, Acronis’s founders, management team, and existing investors—including CVC, Springcoast, and BlackRock Private Equity Partners—will continue to hold significant minority shares. This continued involvement of existing stakeholders reflects a shared vision for the company’s future and a commitment to its ongoing success.
‘Compelling value proposition’
Johannes Reichel, Partner and Co-Head of Technology within EQT’s Private Equity advisory team, said: “Acronis stands out as a robust cybersecurity and data protection software platform, offering a compelling value proposition to Managed Service Providers.
“EQT has observed the company’s impressive performance and innovation over the years, and we are excited to support Acronis, its management team, and existing investors in advancing its growth trajectory.”
Ezequiel Steiner, CEO of Acronis, added: “We are thrilled to welcome EQT as a major shareholder. Their support will drive our strategic expansion and achieve our growth objectives. I also want to thank our existing investors and the Acronis team for their invaluable contributions in reaching this stage.”
Phil Goodwin, Research Vice President at IDC, stated: “Data protection is a critical component of cybersecurity, and Acronis’ integrated platform addresses this need with remarkable effectiveness. Their solution offers MSPs and IT departments a streamlined approach to cyber preparedness, combining data protection, cybersecurity, and remote management in a single, customisable platform.”
‘Fantastic success’
Patrick Pulvermueller, former CEO of Acronis, stated: “What a fantastic success by the Acronis team! A huge congratulations to Ezequiel Steiner {Acronis CEO], Shachar Rabbe [Acronis CFO], and the broader Acronis team for achieving this amazing milestone on Acronis’s journey.
“A company and team, which will always have a very special place in my heart for their passion, talent, dedication and never give-up attitude. I am truly proud to have been part of this story for a period of time.”
Founded in 1994 and headquartered in Stockholm, Sweden, EQT, with €246 billion in total assets under management, is a purpose-driven global investment organisation focused on sustainable growth, operational excellence, and market leadership across its portfolio companies.
The firm’s diverse investments span private equity, infrastructure, real estate, growth equity, and venture capital across Europe, Asia-Pacific, and the Americas.
21-year legacy
Acronis, headquartered in Schaffhausen, Switzerland and founded in Singapore in 2003, has established itself as a formidable cybersecurity and data protection player.
The company’s platform offers a unified solution that integrates data protection, cybersecurity, and endpoint management, designed to safeguard critical IT infrastructure for MSPs and enterprises.
Acronis has grown significantly since its inception. With a global presence across 15 offices and more than 1,700 employees, the company supports over 20,000 service providers and safeguards the data of more than 750,000 businesses.
Acronis Cyber Protect, its flagship product, is available in 26 languages and designed to meet the complex needs of modern IT environments.
Deutsche Bank advised Acronis on the transaction for financial matters and Willkie Farr & Gallagher for legal aspects.
The strategic acquisition underscores EQT’s belief in Acronis’ strong market position and potential for expansion. The move is also set to reshape the landscape of cybersecurity, data protection, and global investment.
Featured image: Acronis exhibitor stand at GITEX Global 2023 in Dubai, UAE. Credit: Arnold Pinto
Last Updated on 4 months by Arnold Pinto
