In June 2016, Dell announced the sale of its software division, which included Quest, to Francisco Partners and Elliott Management Corporation. Timashev and Baronov had sold their previous IT management software company, Aelita Software Corporation, to Quest Software in 2004 Dell subsequently acquired Quest Software in 2012. Ratmir Timashev and Andrei Baronov met in the United States while attending Ohio State University and eventually founded Veeam in 2006. The name "Veeam" came from the phonetic pronunciation of the letters "VM" - virtual machine. The company's headquarters are in Baar, Switzerland and Columbus, Ohio, United States. Veeam Software is a privately held US-based information technology company owned by Insight Partners that develops backup, disaster recovery and modern data protection software for virtual, physical and multi-cloud infrastructures.
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