S”Pore cyber protection firm receives $ 250 m investment for global expansion, including in India

S”Pore cyber protection firm receives $ 250 m investment for global expansion, including in India

By Gurdip Singh

Singapore, May 4 (PTI) Singapore”s cyber protection company Acronis has received USD 250 million investment from Luxembourg-headquartered CVC Capital Partners, supporting its global expansion including the setting up of a cloud data centre and acquisition of companies in India.

The USD 250 million investment has put the company”s value over USD 2.5 billion, up from USD 1 billion in 2019, Rustom Hiramaneck, General Manager for South Asia at Acronis International Pte Ltd, said on Tuesday, announcing the CVC Capital investment.
“India is a top-tier country for us this year and a part of the Asia Pacific and Japan which are one of our fastest growing markets. We have big plans for the adoption of cyber protection vision in India in the next few years,” he said.

“We are actually planning to launch one of our 111 global cloud data centres in India soon. Given the devastating pandemic situation, there are logistical challenges – but we are aiming to deploy our first DC in India in the next few months,” said Hiramaneck.

Touching on acquiring Indian companies as part of expansion, he said, “absolutely, as long as they help us to broaden and deepen the protection we provide, provide better enablement for Service Provider, cloud distributors and aggregators and automate operations for them. We have acquired five companies in the past 12 months and we are acquiring a few more now in the near future. In fact, we are looking at the whole globe.”

Acronis business is growing rapidly in India. “With the best solution and partner programme on the market, we are looking to double our team in India this year, and are focusing on aggressively growing our partner network.”

Acronis established permanent presence in India in 2019. Hiramaneck elaborated on the advantage as the company provides the all-in-one cyber protection solution to partners and end users.

“Our recent global survey shows that 70 per cent of companies in India run up to 10 solutions simultaneously for data protection and cybersecurity. Other 30 per cent run more than 10 – yet 57 per cent of all suffered downtime last year over data loss.
“35 pr cent of IT users and 11 per cent of IT professionals in India would not know if their data had been modified without their knowledge. And shocking 20 per cent of IT pros in India (13 per cent for global) don’t know if their organization is subject to data privacy regulations,” he said. PTI GS PMS PMS
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Disclaimer :- This story has not been edited by Bollyinsidestaff and is auto-generated from news agency feeds. Source: PTI

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