EQT to Buy Majority Stake in Cybersecurity Firm Acronis
By Dominic Chopping
STOCKHOLM--EQT will acquire a majority stake in Swiss cybersecurity company Acronis.
The Swedish buyout group said Wednesday that following the acquisition, the founders, management, and existing investors including CVC, Springcoast and BlackRock will all remain significant minority shareholders.
Acronis provides cybersecurity, data protection, and endpoint management for managed service providers, small and medium businesses and enterprise IT departments. It has 15 global offices and over 1,700 employees.
Financial terms weren't disclosed but EQT said the deal values Acronis above the last growth funding round which was completed in 2022. The company raised $250 million in new funding from BlackRock and others in 2022, valuing the company at over $3.5 billion.
With this deal the EQT X fund is expected to be 40% to 45% invested when the transaction closes between the first and second quarter of 2025.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
August 07, 2024 09:01 ET (13:01 GMT)
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