Hornetsecurity Agrees to Acquire Software Solutions Provider Altaro to Create International Cloud Security and Compliance Software Platform

Transformative acquisition by Hornetsecurity to establish pan-European solution to security and compliance issues in the Microsoft 365 environment.

Hanover, Germany โ€“Hornetsecurity Group, a leading European provider of cloud-based email security and data protection headquartered in Germany, today announced that it has agreed to acquire Altaro, a high-growth international provider of reliable backup solutions. The acquisition will transform the company from being a regional leader in cloud email security to an international cloud security and compliance platform.

Altaro provides cloud back-up software for Microsoft Office 365 and virtual machine (VM) software focused on mid-market and SMEs. Headquartered in Malta with offices in the UK, Germany, France, North Macedonia and the US, Altaro serves over 50,000 customers across more than 120 countries.

This transaction will significantly expand Hornetsecurityโ€™s international presence and product range, making the company a pan-European solutions provider to security and compliance issues in the Microsoft 365 environment. As part of the transaction, Altaroโ€™s founders will be appointed into management roles within Hornetsecurity.

The transaction is supported by Hornetsecurityโ€™s shareholders Verdane, the Northern European specialist growth equity investor and PSG, a leading growth equity firm partnering with lower middle-market software and technology-enabled service companies.

โ€œWeโ€™re thrilled to welcome the Altaro team to help drive the next phase of our growth,โ€ said Daniel Hofmann, CEO of Hornetsecurity. โ€œAs we look to provide all organisations with a complete security and compliance solution for their use of cloud technologies, integrating Altaroโ€™s backup solutions into Hornetsecurityโ€™s email cloud security product portfolio will complete the comprehensive security package puzzle.โ€

David Vella, CEO of Altaro, added: โ€œWe have found exactly the right strategic buyer in Hornetsecurity and are delighted to become part of the group. The two companiesโ€™ existing business lines complement each other perfectly, and by combining these along with our pooled industry experience and know-how, we are confident in Hornetsecurityโ€™s ability to become the European market leader in cloud security.โ€

Financial terms of the transaction were not disclosed.


About Hornetsecurity Group

Hornetsecurity is a leading email cloud security provider in Europe, which protects the IT infrastructure, digital communication and data of companies and organizations of all sizes. Founded in 2007, the security specialist from Hanover, Germany, provides its services worldwide via 9 redundant, secured data centres. The product portfolio covers all important areas of email security, including spam and virus filters, legally compliant archiving and encryption, as well as defense against CEO fraud and ransomware. With around 200 employees, Hornetsecurity is represented globally at 11 locations and operates in more than 30 countries through its international distribution network. The premium services are used by approximately 40,000 customers including Swisscom, Telefรณnica, KONICA MINOLTA, LVM Versicherung, DEKRA and Claas.

Further information onย www.hornetsecurity.com

About Altaro

Altaro is a high-growth developer of reliable backup solutions for managed service providers (MSPs), IT resellers and enterprises. The company has over 50,000 customers in 121 countries around the world, 10,000 partners and over 2,000 MSPs. Altaro offers cost-effective and professional features without unnecessary aspects that add costs or excessive complexity. The flagship product is the backup solution for virtualized environments Altaro VM Backup. It is becoming increasingly popular and is the first choice for Hyper-V and VMware backups and replications. Altaro Office 365 Backup is a subscription solution for backing up and restoring Office 365 mailboxes. A backup solution for physical Windows servers is also available. Altaro has offices in the U.S., U.K., Germany, France, northern Macedonia and Malta.

For further information visitย www.altaro.com

About PSG

PSG is a growth equity firm that partners with lower middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 60 companies and facilitated over 250 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London.

About Verdane

Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation. 

Verdane funds hold over โ‚ฌ6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdaneโ€™s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo, and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe. 

Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy. 

Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities. 

More info: www.verdane.comโ€ฏ
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Press Contact

Verdane Press Office
press@verdane.com
+46 76 27 28 100

Jonathan Bui, Communications Manager
Verdane
press@verdane.com
+46 76 27 28 100

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