New York VC and PE firm Insight Partners has completed its acquisition of Veeam Software, a provider of backup solutions that deliver cloud data management, which has its Americas headquarters in Columbus. The transaction, announced in January, is valued at approximately $5 billion.

Following an investment from Insight Partners at the beginning of 2019, the acquisition of Veeam, which has over $1 billion in annual sales and more than 365,000 customers worldwide, will drive accelerated growth in the U.S. market.

Veeam plans to move the company’s headquarters to the U.S. from Switzerland — it’s still determining whether that will be Columbus or Atlanta — and add strength and experience to its executive team.

“Insight has been a trusted partner since 2013 when they made their first minority-stake investment in Veeam,” Veeam CEO Bill Largent said, in a statement.” They are known for taking high-growth international companies and driving their success in the U.S. market, where they can add invaluable resources, support and expertise. Veeam is positioned extremely well in the market and Insight is the right partner to help us achieve the next level of growth for our Act II, evolution into hybrid cloud, and the right time starts today.”