Data management software developer Veeam was valued at $15 billion in a $2 billion secondary stock offering. This is stated in a message on the website of the IT company founded by Russian immigrants Andrei Baronov and Ratmir Timashev.
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The main buyers of shares were the American investment companies TPG and Neuberger Berman Capital Solutions, as well as the Singaporean Temasek. Other investors also participated in the placement. The deal is expected to close in the first quarter of 2025, subject to regulatory approval.
By expanding its investor base, Veeam has “improved opportunities to pursue strategic partnerships, acquisitions and capitalization in the future,” the company said.
Veeam develops software for backup, recovery and data management in physical, virtual and cloud environments. Baronov and Timashev founded the company in 2006. In 2020 they sold it to the American investment fund Insight Partners. The transaction amount was 5 billion dollars. At the same time, Forbes estimated Baronov’s fortune at $770 million, and Timashev’s at $680 million.
In March 2022, in response to the military operation in Ukraine, Veeam announced the suspension of sales in Russia; In June 2023, two Russian subsidiaries of the company, Veem Rus LLC and Emast Software Corporation LLC, were liquidated. In February 2024 it became known that Baronov and Timashev had renounced Russian citizenship. According to Forbes, the businessmen still have Cypriot citizenship; They themselves have been living abroad for a long time: Baronov is in Switzerland and Timashev is in the United States.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
