A private equity firm explains why it's spending $5 billion to acquire Veeam, a cloud software startup last valued at $1 billion Private equity and investment firm Insight Partners is set to acquire data-management startup Veeam Software for $5 billion, one of its largest deal to date. Insight Managing Director Michael Triplett cited Veeam's rapid sales and customer growth as a major factor in the decision to invest, telling Business Insider that "it would be difficult to find another software company that's accomplished all that in 12 years." As a part of the deal, the startup will now shift its headquarters from Switzerland to the US. That's part of a strategy to "become the dominant player in the US," Insight Partners Managing Director Michael Triplett told Business Insider. Insight is one of the many private-equity firms rushing to become a player in the cloud-computing market, and compete with the likes of Microsoft, Amazon and Google — the latter of which announced it would buy enterprise software company CloudSimple in November. Visit Business Insider's homepage for more stories . Insight Partners is set to acquire data-management startup Veeam Software for $5 billion, in one of the private equity firm's largest deals to date.