Transaction Details

September 20, 2019
Frankfurt, Zurich

Sector

Technology

Deal Type

M&A

Deal Value

N/D

Deal Team

Christian Wipf, Johannes Schmittat, Nikolaus Clary, Mindaugas Yla

GCA Altium advised Acronis on an equity investment led by Goldman Sachs Private Capital Investing

GCA Altium acted as exclusive financial advisor to Acronis AG, a global leader in Cyber Protection software, on a USD 147m funding round led by Goldman Sachs Private Capital Investing based on a valuation of above USD 1bn, thus bringing it to unicorn status.

Founded in Singapore as a data backup and recovery company in 2003 and now headquartered in Switzerland, Acronis currently has more than 1,400 employees in 18 countries. Its cyber protection technology is used by 5 million consumers and 500,000 businesses, including 80% of Fortune 1000 companies. Acronis products are available through 50,000 partners and service providers in over 150 countries in more than 30 languages.

Acronis provides cyber protection solutions for data safety, accessibility, privacy, authenticity, and security (SAPAS). These include Acronis Cyber Platform, enabling third-party developers to customize, extend and integrate cyber protection into their solutions, Acronis Cyber Infrastructure, providing the most cost-efficient and secure environment for running cyber protection solutions and data storage, and Acronis Cyber Cloud, enabling service providers and enterprise IT to deliver cyber protection services to end customers. 

“We are excited about the endorsement of our strategy by Goldman Sachs,” said Serguei Beloussov, founder and CEO of Acronis. “In 2018, Acronis achieved 20% business growth, and in 2019 it is on track for over 30% growth with the Acronis Cyber Cloud business growing by 102%. Recently we announced the Acronis Cyber Platform, enabling third-parties to customize, extend, and integrate our cyber protection solutions to the needs of their customers and partners. The investment round led by Goldman Sachs will help us to fast-track the product development through acquisitions of companies and additional resources, and accelerate the growth.”

“We are proud to have advised the founders and management of Acronis in this important step,” said Christian Wipf, Chairman of GCA Altium Switzerland.

The investment round enables Acronis to expand its engineering team in Singapore, Bulgaria, and Arizona, build additional data centers, and grow through acquisitions. Additionally, Acronis will use the capital to accelerate the business growth in North America in partnership with Acronis SCS, an independent software vendor and distributor for the public sector.

Acronis will make a significant investment into developing service provider partners and assisting resellers in the transition to service provider model. On October 13-16 2019 Acronis hosts a global summit in Miami focused on helping service providers to build profitable cyber protection business, acquire new customers, and reduce churn of existing customers.

As part of the equity process, GCA Altium performed a detailed financial analysis, advised on documentation and bid tactics, and coordinated the Due Diligence process.

The transaction closed in September 2019.

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