Page 4 - Bill Largent News Today : Breaking News, Live Updates & Top Stories | Vimarsana
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Veeam plans IPO and believes it can boost its M&A activities
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Veeam Software Corp. had a busy year in 2020. It was bought by private equity firm Insight Partners in a multibillion-dollar deal and strengthened its position in data management across hybrid clouds. In 2021, the company is continuing with its “big enterprise push.”
In addition to maintaining relevant growth, which is the watchword of Veeam’s new management team, the company has plans for an IPO and to make future acquisitions, according to Bill Largent (pictured, left), chief executive officer of Veeam.
“You’ll see us do both of those in the future; [it’s] very important,” he said. “Without being too predictive, I would say hopefully that’s something you will see in the IPO side in the next 12, 24 months, a run like that.”
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Legacy systems and outdated data protection are considerable obstacles for organizations trying to modernize IT through digital transformation. This lack of resources can greatly hinder DX efforts, according to a recent report from data backup provider Veeam Software Corp.
Fifty-eight percent of backups fail, leaving data unprotected according to Veeam’s “Data Protection Report 2021,” which underscores the challenges thwarting the ability to execute DX initiatives globally. The report also found that 40% of CXOs cite inadequate data protection, as well as the challenges to business continuity posed by the pandemic are hindering organizations’ initiatives to transform.
Veeam will host VeeamON, a free online conference on May 25-27, to address these challenges. Themed “Accelerate Your Data Protection Strategy,” the event will explore trends and the future of modern data protection and feature industry expert advice and tips on ransomware recovery, best practices fo