EQT nabs majority share in Acronis

Investment company EQT announced that it is set to acquire a majority stake in cybersecurity and backup software vendor Acronis International, reports SiliconAngle.

The deal, which is expected to close sometime in the first half of 2025, values Acronis at over $3.5 billion, which is what the provider was estimated to be worth in a 2022 funding round. Existing investors are set to remain as significant minority shareholders. Acronis, which is based in Switzerland, offers the Cyber Protect Cloud platform, which assists managed service providers in safeguarding other organizations' IT infrastructure from cyber threats and backing up their critical data. The platform employs artificial intelligence to detect sophisticated cyberattacks and includes features like an AI assistant for breach investigation and an automation engine to reduce manual tasks. The vendor also provides a scaled-down version of its software for small businesses and consumers. Acronis’ software is used by over 750,000 organizations globally.