Temasek has participated in a US$2 billion ($2.68 billion) secondary share offering by data firm Veeam Software, in a transaction led by Nasdaq-listed TPG.
US-headquartered Veeam provides data resilience solutions. The transaction values the Insight Partners-owned company at US$15 billion.
As at September, Veeam has generated US$1.7 billion in annualised recurring revenue, with a 18% y-o-y growth rate including 31% y-o-y growth for the software and software-as-a-service subscription business, as well as 30% ebitda margins.
“As enterprises embrace AI and digital initiatives, the volume and value of data continues to grow, along with the risks — ransomware, cyber threats and other outages. Our 550,000 customers and over 34,000 partners trust Veeam to keep their data resilient and their businesses running,” says Veeam CEO Anand Eswaran.
With the expanded investor base, Veeam can pursue strategic partnerships, acquisitions and enhanced capitalisation opportunities. Insight Partners remains the largest shareholder.
