Cronis, a leader in cybersecurity, and EQT announced this Wednesday (7) that the EQT X fund will acquire a majority stake in the company. The founders, management, and existing investors – such as accounts managed by CVC, Springcoast, and BlackRock Private Equity Partners – will remain significant minority shareholders. The Swiss company was valued in the above transaction higher than the last growth financing round completed in 2022.
“Acronis is a strongly positioned cybersecurity and data protection software platform with a clear value proposition for Managed Service Providers. EQT has followed the company’s trajectory for many years and continues to be impressed by its performance and innovative strength. We are very excited to partner with Acronis, the management team and existing investors on the next phase of growth,” said Johannes Reichel, Partner and Co-Head of Technology in EQT’s Private Equity advisory team.
"We are excited to have EQT as a majority shareholder to support our strategic expansion and share our growth vision. We would like to thank our current investors for their support so far, and we are pleased that many will remain invested as we move forward," added Ezequiel Steiner, CEO of Acronis. "But, above all, I would like to thank the Acronis team for the work done to reach this stage," he completed.
Founded in 2003, Acronis is a leading provider of IT solutions for Managed Service Providers, with a highly efficient and natively integrated cybersecurity and data protection platform.
EQT takes over the controlling stake in a network that has 15 offices around the world, with more than 1,700 employees and covering more than 150 countries – with approximately 20,000 Service Providers that protect around 750,000 companies.
Commenting on Acronis's product suite, Phil Goodwin, IDC Vice President of Research, stated: "Data protection is fundamental to cybersecurity, and the two are increasingly integrated. Acronis's architecture of integrated data protection, cybersecurity, and remote management on a single customizable platform enables MSPs and corporate IT departments to establish robust cyber readiness for their businesses with simplicity and reliability."
Completion of this transaction is subject to customary regulatory approvals and is expected to occur between the first and second quarters of 2025.
