Kaseya Owner Insight Venture Partners Acquires UnitrendsKaseya Owner Insight Venture Partners Acquires Unitrends
Insight Venture Partners, the investment firm that has taken a major stake in IT monitoring and management vendor Kaseya, has continued its acquisition spree in the IT services space by investing in Unitrends, a data backup and disaster recovery company.
November 4, 2013
Last week Insight Venture Partners, the venture firm that has taken a major stake in IT monitoring and management vendor Kaseya, continued its acquisition spree in the IT services space by investing in Unitrends, a data backup and disaster recovery company.
Financial terms of the deal were not disclosed, but the move showcases Insight Venture Partners aggressive moves into the IT services space. The Kaseya acquisition had been followed by acquisitions of Zyrion and Rover Apps. And more recently Kaseya acquired Microsoft Office 365 management tool 365 Command.
Unitrends told MSPmentor that it plans to put a heavy focus on expansion in cloud and virtualization going forward.
Here’s what Insight Venture Partners had to say about the deal to buy Unitrends:
“Unitrends’ proven track record of success has made it one of the fastest growing data protection vendors in the industry, known for its powerful, cost-effective and easy-to-use solutions,” said Mike Triplett, managing director at the VC firm, in a prepared statement. “We are excited to partner with the Unitrends team and support their growth in existing and adjacent markets.”
Insight and Unitrends said that 2012 marked the most profitable year in Unitrends’ history, and 2013 marked the company’s expansion into Europe plus an expansion of its customer support team and 125 new employees across all functional areas of the company. Here’s what CEO Mike Coney had to say about the venture investment in Unitrends:
“We chose Insight Venture Partners specifically because of its incredible track record, its understanding of the business model and its portfolio of companies in our space. Our collective expertise will enable us to scale our business and continue to aggressively address the needs of midmarket IT organizations.”
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