, a Swiss data management company that offers backup and disaster recovery services for enterprises, is being acquired by venture capital and private equity firm Insight Partners in a $5 billion all-cash deal.

Founded in 2006 by Russian entrepreneurs Ratmir Timashev and Andrei Baronov, Veeam is one of numerous data management platforms that work across multiple clouds, on-premises servers, and hybrid setups. The company claims some 365,000 customers and $1 billion in annual sales.

That Insight Partners has elected to buy Veeam perhaps should not come as a total surprise — the New York-based investor became a minority shareholder in Veeam as part of a broader business partnership, before in January 2019 to the tune of $500 million.

Enterprising

While Insight Partners has some notable exits

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