2020 started with a bang in the data protection space with the announcement of the acquisition of Veeam by Private Equity firm Insight Partners. Insight Partners is no stranger to the space, having invested in Acronis, as well. In this short blog, I am going to net out my views on this acquisition.
It's great news for the market! Let's be clear, the backup and recovery space is hot and growing, but it is yesterday's market. It is evolving into something else, which I have coined the data intelligence market, an evolution of backup and recovery that places data and data reuse at the heart of the enterprise. Whether enabling digital transformation or leveraging "dark" or dormant data, the idea is to leverage data assets. This acquisition is about the next stage of the market.