Russia has two more billionaires

Credit: Alexey Sukhorukov | RIAN

The founders of Veeam Software startup, Ratmir Timashev and Andrei Baronov, have become new dollar billionaires in Russia after their project was bought by the American fund Insight Partners.

The Insight Partners fund bought the Russian startup for $5 bln. The deal has been signed and should be closed in the first quarter of 2020. The two founders have previously been included in Russia’s top 200 wealthiest people list; their last deal will strengthen their position, Forbes writes.

However, following the deal, Timashev and Baronov will be leaving the board of directors. The project management team will change, but the founders will continue to provide consultancy to the new management.

Veeam Software offers data backup products and cloud solutions.

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