The Swiss cybersecurity company Acronis will have a new majority shareholder. EQT will take a stake of 40 to 45 percent.

Acronis announced the deal with EQT in a press release. EQT will take a 40 to 45 percent stake in Acronis, making the European investment fund the majority shareholder. Exactly how much EQT will contribute has not been disclosed, but Acronis has a market value of around 3.5 billion US dollars.

The deal is expected to close in early 2025. Regulators are reviewing the transaction.

The company confirmed that the other investors will also remain on board. CVC, Springcoast and BlackRock Private Equity Partners agreed to become minority shareholders. Founders Serge Bell and Stanislav Protassov will also remain involved with the company, although it is not clear whether they will continue as directors.

“We are pleased to have EQT as a major shareholder who supports our strategic expansion and shares our growth vision. We would like to thank our existing investors for their support to date and are pleased that many will continue to invest in the future,” said CEO Ezequiel Steiner.

For many, Acronis is synonymous with its backup solutions, but the security portfolio of the Switzerland-based company goes far beyond pure backups. The company also offers EDR solutions for large companies and SMEs, among others.