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Insight Venture Partners' portfolio companies join forces to create data protection platform ideally suited for small and mid-market organizations.

COLUMBIA, S.C. -- December 16, 2013 -- Unitrends, the leading provider of all-in-one backup, archiving, instant recovery and disaster recovery solutions, today announced that it has signed an agreement to acquire PHD Virtual Technologies, an innovator of virtual backup and disaster recovery assurance solutions. Both companies have primary investments from Insight Venture Partners, a leading global private equity and venture capital firm. Financial terms of the transaction were not disclosed.

This acquisition will give Unitrends the ability to leverage PHD Virtual's proven technology platform and data protection products, which are perfectly suited to meet the unique demands of small and medium-size businesses (SMBs/SMEs). Combined, Unitrends and PHD Virtual serve more than 10,000 customers worldwide and have more than 8,000 global channel partner representatives. With data protection solutions for physical, virtual and cloud environments and the freedom to choose a deployment model (appliance, software or cloud), Unitrends' enhanced product portfolio provides customers with a more affordable and easier-to-use array of data protection solutions.

"The small and mid-size companies that power today's economy have significant data protection and disaster recovery needs that have largely gone unmet," said Mike Coney, president and CEO of Unitrends. "Unitrends and PHD Virtual, both of whom have built their businesses serving this broad market and understand its unique requirements, will join forces to develop a platform that offers the most robust data protection and disaster recovery solutions available on the market today. PHD Virtual's unique disaster recovery product, ReliableDR, combined with Unitrends' cutting-edge virtual and physical instant recovery technologies, will be an excellent accelerator for our growth strategy in this market."

"The worlds of data protection and disaster recovery are merging and the combination of Unitrends and PHD Virtual is a real game-changer," said James Legg, president and CEO, PHD Virtual. "Our combined product portfolio is a one-stop shop for SMBs, with solutions spanning backup, replication and disaster recovery. Our customers will benefit from Unitrends' excellent product capabilities, such as support for physical, virtual and cloud environments, as well as the company's industry expertise and global footprint."

"Both Unitrends and PHD Virtual have proven track records with their powerful, cost-effective and easy-to-use data protection products," said Mike Triplett, managing director at Insight Venture Partners. "Given their success to date, we believe this merger will position the combined entity for accelerated growth with a broader offering that will serve the SMB/SME market extremely well."