The news for 2018 just keeps getting better. On the back of our greatest year, where we exceeded all expectations with $827M in total bookings revenue and 36% annual growth, Veeam isn’t standing still. Today, I am delighted to announce the acquisition of N2W Software (N2WS), our first major acquisition, which positions us for continued hyper-growth in our cloud business.
Veeam is on an aggressive growth path to be a billion-dollar software company by the end of 2018. This acquisition bolsters our position as the leading provider of data protection and Availability solutions across physical, virtual and multi-cloud environments. As Veeam looks to accelerate its cloud offerings, this acquisition strengthens Veeam’s position as the leading provider of Availability for any app, any data, across any cloud, and strengthen our ability to protect AWS workloads.
Why have we acquired this company?
N2WS is a leader in Infrastructure as a Service (IaaS) data protection, providing a cloud-native backup solution specifically designed for AWS workloads, enabling organizations to back up data and applications as often as needed and recover them in seconds. N2WS grew revenues by 102% in 2017, and Veeam saw the potential in N2WS early on, and during the short period of time (one year since the original investment by Insight Venture Partners and Veeam) N2WS has proven itself as a leader in the backup and recovery market for AWS. We saw great potential, not only with the company, but also the AWS market, such that a full acquisition of the company made sense strategically.
As our customers look to move more workloads to the cloud, especially with AWS, protection and Availability of their data is a primary concern. Our goal is to give our customers confidence that Veeam ensures that their information is protected no matter where it resides, and this acquisition gives our customers the #1 solution they need for protection of data and apps in AWS.
As an added bonus to Veeam customers, we are offering our loyal users a unique opportunity to secure
But the benefits of this acquisition don’t stop there. For Veeam’s valued ecosystem of partners, bringing N2WS into the Veeam portfolio delivers an additional opportunity for growth. We have more than 53,000 partners, of which almost 18,000 are Veeam Cloud & Service Providers (VCSPs) program, and the combination of Veeam and N2WS will give these partners the ability to aggressively leverage the AWS market opportunity, open new revenue streams and deliver added value to customers.
While I spend a lot of my time thinking about how Veeam can deliver value to customers and partners, one of my key focus areas is the Veeam team, and this deal is a major plus for our family. The acquisition strengthens our technology prowess even further, and allows the two teams (Veeam and N2WS) to work closely together, benefitting from each other’s expertise. Veeam will now have access to N2WS technology, as well as its world-class research and development teams. N2WS will be able to integrate IaaS data protection for AWS workloads into the Veeam Availability Platform and leverage the world-class digital marketing strength of Veeam.
Together, the two teams are able to bolster each other, bringing even greater strength to both companies.
This is a game-changer in every sense. The IaaS market is projected to reach $88B in the next four years, making it the fastest growing cloud segment, and over the past year, Veeam’s strongest growth has been in cloud business. We can now claim a bigger share of this market!
When you take two organizations, both operating as the leading solution providers in a fast growing space, and bring them together to focus on the needs of the customer, you can’t lose.
I’m very proud of our team and the success we are building. The addition of N2WS is a great way to start off 2018 as we move forward.
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