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EQT buys majority share in Swiss cybersecurity biz Acronis. Went at equivalent of $3.5B+ valuation for entire firm, though portion sold not specified. Acronis, the Swiss disaster recovery turned cybersecurity firm and catch-all for managed service providers, has been majority acquired by Europe’s largest private equity firm, EQT. "We are thrilled to have EQT as a major shareholder to support our strategic expansion and share our vision for growth," enthused Acronis's CEO, Ezequiel Steiner. "We would like to thank our existing investors for their support to date and are pleased that many will remain invested as we move forward," he added. Some of those remaining investors include funds and accounts managed by CVC, Springcoast and BlackRock Private Equity Partners. Acronis told The Register that in the transaction with EQT, it was valued above its last growth funding round in 2022. That number is estimated at $3.5 billion. The exact value of the deal was not disclosed, nor was the size of the chunk soon to be owned by EQT. What is known is that EQT expects the transaction to close in Q1 or Q2 2025, pending customary regulatory approvals. Founders Serg Bell and Stanislav Protassov will keep a material stake in the company, although Bell took to his LinkedIn account to share the news that the agreement will allow him, and Protassov, to devote more time to its AI infused research and educational tool, Constructor Tech Platform. The Reg was told Bell will remain on the Board of Directors. We've asked about Protassov, but that information was not disclosed. The purchase reflects the increasing trend of private equity firms investing heavily in technology companies. EQT also bought provider of enterprise-grade open-source solutions SUSE in 2018 for $2.5 billion.