The cybersecurity sector continues to attract significant investment, with EQT recently acquiring a majority stake in Acronis, a company renowned for its data protection, cloud, and integrated security solutions tailored for managed service providers and corporate IT teams.

While the exact size and value of the stake remain undisclosed, EQT and Acronis have confirmed that the deal values Acronis above its last known valuation of $3.5 billion from 2022.

Acronis has shown impressive growth, with its solutions now utilized by 20,000 service providers and over 750,000 businesses. In 2022, the company reported having 5.5 million home users and 500,000 business customers, a significant increase from 10,000 service providers in 2021. The company's workforce has also grown to 2,000 employees, up from 1,700 in 2022. According to Acronis President Gaidar Magdanurov, the company's cloud business is experiencing a 40% annual growth in recurring revenue.

In 2021, Acronis reported profitability and has since raised over $600 million in equity and debt. Its investors include BlackRock, CVC, and Goldman Sachs. Despite the new majority stake, the founders, management, and several existing investors, including BlackRock, CVC, and Springcoast, will retain minority stakes in the company.

Serg Bell, one of Acronis's founders, expressed enthusiasm about the partnership with EQT, emphasizing the alignment with Acronis's culture and vision. Bell highlighted the growing cyber threats and Acronis's unique position to help service providers protect and manage their customers' IT infrastructure. Moving forward, Bell and co-founder Stanislav Protassov will focus on their other venture, the Constructor Group, which is centered on AI and metaverse applications.

This acquisition underscores the trend of private equity as a common exit strategy for enterprise technology companies, especially when the IPO market is challenging.

Founded in 2003, Acronis started in Singapore before relocating to Switzerland. Initially a spinoff from Parallels, a Russian virtualization specialist, Acronis focused on data recovery and backup. Over the years, it has expanded its offerings to include continuous data protection, cloud security, endpoint protection, patch management, anti-malware, and more. Competitors include Commvault and Veritas. With EQT's investment, Acronis is poised for further growth and innovation.

Ezequiel Steiner, CEO of Acronis, expressed excitement about EQT's support for the company's strategic expansion. He thanked existing investors and the Acronis team for their contributions to the company's success. Johannes Reichel, partner and co-head of technology for EQT’s PE team, praised Acronis's performance and innovative strength, expressing eagerness to support the company's next growth phase.