The company presents a firmly positioned cybersecurity platform with a strong value proposition to MSPs
Acronis, a Swiss company founded in Singapore in 2003 and with its global headquarters in the city state and its corporate headquarters in Schaffhausen, Switzerland, provides superior cyber protection for data, applications, and systems with innovative next-generation antivirus, backup, disaster recovery, and endpoint protection management solutions powered by AI.
Acronis unifies data protection and cybersecurity to deliver integrated, automated cyber protection that solves the safety, accessibility, privacy, authenticity, and security (SAPAS) challenges of the modern digital world.
With advanced anti-malware powered by cutting-edge machine intelligence and blockchain-based data authentication technologies, Acronis protects any environment, from cloud to hybrid to on-premises, at a low and predictable cost.
MSPs
Through its Managed Service Providers (MSPs) channel, Company is well positioned as a potent cybersecurity and data protection software platform
Recently, in August 2024, EQT, a Swedish global, purpose-driven investment organization founded in 1994 a purpose-driven global investment organization with EUR 246 billion in total assets, and EQT have announced that the EQT X Fund (EQT) will acquire a majority stake in the Company.
To get the lowdown on this landmark highlight and to bring us to speed on the other developments at this premier, cybersecurity company, LogisticsGulf.com recently conducted an exclusive, expansive interview with the USA-based Gaidar Magdanurov, President and CMO, Acronis.
LogisticsGulf.com (LG): What caused EQT to acquire a majority stake in Acronis? How will this newly spawned equation play out?
Gaidar Magdanurov (GM): Acronis operates in rapidly developing cybersecurity and data protection markets and is growing at a rapid pace. We attained over 40% growth in B2B Cloud business in the first quarter of 2024. Acronis is an attractive investment.
EQT is committed to enhancing Acronis’ growth by accelerating the penetration and expansion of Acronis’ MSP network and further strengthening the product portfolio, empowering Acronis to become the leading full management suite for MSPs. We are excited to work together to ensure that Acronis maintains the highest standards of quality and customer service.
LG: Will this result in a controlling interest for EQT and can you identify the percentage investment level and valuations?
GM: EQT has acquired a majority stake. We are not disclosing the specifics.
LG: What synergies, financial and non-financial, will EQT bring to the relationship and stakeholder composition?
GM: There are no planned cost synergies resulting from this transaction. For customers and partners there will be no change to the excellent levels of service that Acronis provides.
LG: What immediate implications and operational benefits will this capital infusion have for Acronis?
GM: Acronis will continue developing natively integrated cyber protection, continuing innovation in EDR / XDR, automated prevention and remediation, and AI-based Copilot to assist IT professionals. We will continue to leverage AI capabilities to increase automation, improve IT teams’ efficiency, and improve cyber protection’s reliability.
LG: How will the dynamics change, if any, in terms of corporate strategy, tactics and vision for Acronis?
GM: EQT will be a supportive partner and shares the management team’s vision for growth, so will support the strategic expansion of the business. The senior management of Acronis continues to operate according to the company strategy and plans. For customers and partners there will be no change to the services that Acronis provides.
LG: Talk to us about the cyber threats landscape in the Middle East; how serious are the threats and how is Acronis combating these?
GM: As industries and entrepreneurs across the UAE and the broader Middle East embrace digital innovations, the region is experiencing a surge in cyber-attacks.
Our recent Acronis Cyberthreats Report H1-2024, showcases how the UAE has seen a significant 32% increase in malware detection in Q1-2024 compared to Q4-2023. Recent incidents, like fraudulent websites mimicking official platforms and phishing scams disguised as postal updates, underscore the urgent need for heightened cybersecurity awareness.
As enterprises continue to embrace and adopt different digital revolutions, the need to address cybersecurity challenges has become paramount. Acronis encourages MSPs to adopt comprehensive security strategies, incorporating security awareness training and leveraging advanced endpoint protection solutions like XDR and multi-factor authentication.
LG: What sets Acronis apart from its peers and what are its distinctive capabilities?
GM: Acronis has a unique offering of the only natively integrated cyber protection – cybersecurity, data protection and infrastructure management platform – with one agent, one console, and one policy – enabling incredible efficiency and reliability for IT teams. We plan to continue innovating in the natively integrated cyber protection field and protection of the workloads important for our partners, like Microsoft 365 and Google Workspace. Acronis also continues to advance AI for monitoring, automation and remediation. This will allow users to serve more customers at a larger scale and lower cost.
LG: How significant is the Middle East / GCC for Acronis?
GM: The Middle East is an important and rapidly expanding region for Acronis with much promise and potential. The significance of this region is evident from the fact that Acronis has developed a potent network of distributors and MSPs, constituting the backbone of our network of service agents.
We have further fine-tuned our service portfolio with professional client segmentation and investments in improving and upgrading services and capabilities. We are very buoyant about our prospects in the region. Acronis continues to invest in the growth of the business in the region – by adding people serving customers and partners in the region and expanding the capacity of the data centers serving the region.
LG: What are the opportunities and corresponding challenges for Acronis in the region going forward?
GM: The UAE witnessed a notable increase in malware detections, with a 11.7% increase from January to May 2024. The UAE has also been identified as a ‘prime target’ for ransomware attacks, as cautioned by the country’s Cyber Security Council. MSPs are particularly vulnerable, facing persistent threats such as phishing, social engineering, and supply chain attacks.
As a result of the increasing volume and complexities of cyber threats, we are committed to staying ahead of the competition in the ecosystem and providing customized solutions for our clients.
LG: How intense and frequent are cyberattacks in the Middle East region and how is Acronis keeping on top of these constant and volatile developments?
GM: As mentioned earlier, in the Middle East, the cyber threat landscape is rapidly evolving, with an increase in targeted ransomware attacks, supply chain vulnerabilities, and advanced phishing methods. To tackle these developments, Acronis focuses on constant innovation, investing in research and development to enhance security features.
Proactive threat intelligence and collaboration with cybersecurity experts enable us to adapt solutions effectively, ensuring comprehensive protection against emerging threats.
LG: What industry sectors / verticals are most vulnerable to cyberattacks and how is Acronis combating these?
GM: Ransomware continues to be a major threat to small and medium-sized businesses (SMBs), particularly in critical industries such as government and healthcare. In Q1-2024, Acronis observed 10 new ransomware groups who together claimed 84 cyberattacks globally. Among the top 10 most active ransomware families detected during this time, three highly active groups stand out as the primary contributors, collectively responsible for 35% of the attacks: LockBit, Black Basta, and PLAY.
MSPs are particularly vulnerable, facing persistent threats such as phishing, social engineering, and supply chain attacks. Hence, having a proper cyber protection solution in place, that not only will be able to deal with known and unknown ransomware strains but also protect your business from any other threats, keep your endpoints prepared for attacks thanks to vulnerability assessment and patch management, predictive AI-based monitoring and technologies like exploit prevention, that are an integral part of Acronis Cyber Protect Cloud, is essential.
Of course, security software should go together with fostering a culture of cyber protection awareness that is also a crucial step in combating these issues.
LG: What are Acronis’ expansion plans for the region?
GM: As a part of the expansion strategy, Acronis remains committed to strengthening its presence in the Middle East. The opening of the Cyber Cloud Data Center in Abu Dhabi is a strategic investment given the growing Cloud and Data Center market in the region.
LG: What is your vision, short and long-term, for Acronis regionally and globally?
GM: The launch of Cyber Cloud Data Center in the UAE underscores our dedication to providing localized support and infrastructure to our partners and customers in the region. In addition to the data center announcement, we introduced new solutions tailored specifically for this market. Managed Detection and Response (MDR), powered by Novacoast, is a prime example.
This offering provides Managed Service Providers (MSPs) with an efficient endpoint security service, seamlessly integrated with data protection for enhanced business resilience. Furthermore, we introduced Endpoint Detection and Response (EDR), further bolstering our comprehensive cybersecurity offerings.
Globally, our initiatives focus on empowering partners with access to cutting-edge cyber protection solutions, fostering innovation while ensuring data sovereignty.
LG: What is Acronis’ imprint / footprint among logistics / supply chain/transportation companies and the Logistics and Supply Chain (LSC) ecosystem as a whole? Do they have many companies in this domain as clients?
GM: Acronis has a significant presence in the industry with both Acronis Cyber Protect Cloud platform that allows service providers to protect and manage infrastructure of remote offices of logistics companies, as well as Acronis Cyber Protect on-premises products used by Corporate IT of the companies in the industry. Acronis present in almost every major logistics/supply chain/transportation company in the world, mostly due to One Click recovery capability.
The scenario is simple – if a system goes down, an employee can follow a short step-by-step guide to recover the system. Requirements are that the system administrator should enable the capability, and a backup should be a disk backup available.
Recovery steps are easy for every user–restart the machine, load Acronis Startup Recovery Manager by pressing F11, and then select to recover from the most recent backup and choose the most recent backup from the list. After the recovery, the machine will boot normally.
This technology allowed companies to quickly recover after the recent CrowdStrike incident, without bringing IT professionals in front of the devices.
LG: Explain the Acronis-MSP equation and how is this model functioning?
GM: Acronis provides a platform to MSPs, and MSPs deliver services based on the platform. MSPs are partners, as they charge customers for the services customers use, and pay Acronis only for the consumption of the services.
Acronis is invested in developing the business of its partners, delivering marketing campaigns, technical and sales education, and supporting partners in the larger deals with Acronis salespeople.
LG: Explain the role of the Acronis Academy for MSPs?
GM: Acronis Academy makes sure that our partners are proficient in Acronis’ products as well as know the best practices for cybersecurity, data protection and management, and can deliver the top-quality service to their customers.
Also, Acronis Academy helps partners to learn sales and marketing methods, to recruit new customers, and expand the portfolio of services they offer to their existing customers.
BOX OUT:
Gaidar Magdanurov, President and CMO, Acronis
As President, Acronis, Gaidar is responsible for partner enablement, education, and Acronis marketing organizations. He joined Acronis in 2013 as a Business Manager to CEO, becoming Vice President of online business and General Manager for consumer business in 2016, Chief Marketing Officer in 2017, Chief Success Officer in 2020, and President in 2023.
Previously an investment director at venture capital fund Runa Capital, Gaidar was responsible for seed-stage investments, advising and educating entrepreneurs, supporting the business development of portfolio companies, and maintaining relationships with startup incubators and accelerators.
Before Runa Capital, Gaidar served in various roles at Microsoft, from a technology evangelist to a Microsoft Seed Fund managing director. Before Microsoft, he worked as a software engineer and IT administrator for various companies. Gaidar holds a Master’s Degree in Chemistry.
