Acronis Acquisition: Key Details, Impact, and What Comes Next

EQT's acquisition of a majority stake in Acronis marks a significant development in the cybersecurity and data protection industry. This strategic partnership aims to accelerate Acronis' platform expansion while maintaining a strong focus on customer service. The deal underscores the growing importance of integrated cybersecurity solutions for Managed Service Providers and corporate IT departments.

What Is Acronis?

Founded in 2003, Acronis specializes in cybersecurity and data protection solutions. Its core products include Acronis Cyber Protect Cloud, Security + XDR, and Acronis True Image. Acronis stands out with its natively integrated solutions that combine cybersecurity, data protection, and endpoint management into a single platform. The company offers comprehensive protection across the NIST framework and is recognized for its ease of use, global reach, and multiple industry certifications and awards.

Who Acquired Acronis?

EQT Group is a global investment organization known for its purpose-driven approach and extensive market influence. The company focuses on creating value through investments in high-quality companies across sectors such as healthcare, technology, and industrial technology. Key services include Private Capital, Real Assets, and Private Wealth, offering a range of investment opportunities from early-stage ventures to large-cap buyouts. With over 300 portfolio companies worldwide, EQT leverages local knowledge and relationships to drive sustainable growth and value creation.

When Was Acronis Acquired?

EQT announced its acquisition of a majority stake in Acronis on August 7, 2024. This move comes at a time when the cybersecurity and data protection industry is experiencing significant growth, driven by increasing complexity in IT environments and a heightened focus on integrated solutions. The transaction, pending regulatory approvals, is expected to complete in Q1-Q2 2025, aligning with a broader trend of private equity investments in enterprise technology amid a closed IPO window.

Why Was Acronis Acquired?

• Market Expansion: The acquisition supports Acronis' strategic expansion, enabling it to scale its network rapidly through its Managed Service Providers (MSP) channel. With EQT's backing, Acronis aims to accelerate the growth of its platform, which already protects over 750,000 businesses across 150 countries.
• Technology Integration: Acronis offers a natively integrated platform that combines cybersecurity, data protection, and endpoint management. This comprehensive suite of services, including Acronis Cyber Protect Cloud, provides a single, customizable solution for MSPs and corporate IT departments, enhancing EQT's technological capabilities.
• Competitive Advantage: Acronis' strong market position and innovative strength in cybersecurity and data protection give it a competitive edge. The company's ability to integrate multiple security solutions into a single platform and its extensive global network of over 20,000 service providers further strengthen its market position against competitors like Commvault and Veritas.

Acquisition Terms

• Acquisition Price: The deal values Acronis higher than its last disclosed valuation of $3.5 billion, with some sources indicating the actual valuation was around $4 billion.
• Payment Method: The payment method was not publicly disclosed.
• Key Conditions or Agreements:
  • The transaction is pending customary regulatory approvals and is expected to complete in Q1-Q2 2025.
  • The founders, management, and existing investors, including funds and accounts managed by CVC, Springcoast, and BlackRock Private Equity Partners, will remain as significant minority shareholders.
  • EQT X fund will acquire a majority stake in Acronis.

Impact on Acronis

The acquisition by EQT is expected to bring several changes to Acronis' operations and management. While the founders and existing investors will retain significant minority shares, the current CEO, Ezequiel Steiner, will continue to lead the company. This continuity in leadership aims to ensure a smooth transition and maintain the company's strategic direction. The founders, Serg Bell and Stanislav Protassov, will shift their focus to other ventures, such as the Constructor Group, while still holding a material stake in Acronis. This move is anticipated to foster a stable yet dynamic operational environment.

On the product and service front, the partnership with EQT is set to accelerate the expansion of Acronis' platform, particularly through its Managed Service Providers (MSP) channel. The company will continue to enhance its integrated cybersecurity, data protection, and remote management solutions, ensuring high standards of data security and reliability. Employee reactions have been positive, with the CEO expressing gratitude towards the team for their efforts. Although direct customer reactions are not detailed, the emphasis on improved services and strategic expansion suggests a favorable outlook for customer satisfaction.

For founders considering business transitions, tools like Sunset can assist in managing such processes compliantly, ensuring a smooth and efficient transition.