Milbank LLP advises EQT X fund (“EQT”) on its investment in Acronis AG. EQT will acquire a majority stake in Acronis. Founded in 2003 and headquartered in Switzerland, Acronis is a leading IT solutions vendor for Managed Service Providers, offering a natively integrated, highly efficient cybersecurity and data protection platform. Acronis enables customers to outsource IT capabilities while ensuring high standards of data security, integrity and reliability. With 15 offices around the globe and more than 1,700 employees, Acronis’ network spans over 150 countries, enabling over 20,000 Service Providers to protect over 750,000 businesses. The founders, the management team, and certain existing investors will remain invested as significant minority shareholders. Completion of the transaction is subject to customary regulatory approvals and expected for H1 2025. The Milbank team was led by partner Steffen Oppenlaender (Corporate/M&A, Munich) and included partners Sebastian Heim (Corporate/M&A, Munich),  Alexander Rinne (Regulatory, Munich), Andrea Hamilton (Regulatory, London), Thomas Kleinheisterkamp (Tax, Munich), Barbara Mayer-Trautmann (Banking and Leveraged Finance, Munich), Bijan Ganji (Global Risk & National Security, Washington DC), Atara Miller (Litigation, New York) and Mike Shah (Executive Compensation and Employee Benefits, New York) as well as special counsels Nils Bremer (Regulatory, Munich), John Garces (Corporate Data Privacy and Information Security), and Varun Natteri Mangadu (Banking and Leveraged Finance, London), and associates Sandra Feil, Pirmin Schauer, Maximilian Mueller, Linus Knappe, Tim Prakash (all Corporate/M&A, Munich), Jan Maas (Regulatory, Munich), Bridget Golob (Global Risk & National Security, Washington DC), Susanne Baier (Banking and Leveraged Finance, Munich), Bradley Hershon (Litigation & Arbitration, New York), and Georgia Kinsella (Litigation & Arbitration, London).