MSP360 Backup is backup software for computers and servers that sends backups to cloud storage, including MSP360's own storage service, which the product page says runs on AWS or Wasabi. The product was previously called CloudBerry Backup, and the company was known as CloudBerry Lab before it adopted the MSP360 name. The software is installed and configured by the customer on its own systems.
The company is headquartered in Pittsburgh, Pennsylvania; its own website states no location. Its US base means US law applies to the company. The storage providers named on the product page, AWS and Wasabi, add further parties to the chain without naming their regions. For a European organisation the sovereignty question is therefore less about the software, which runs locally, and more about the storage region and provider chosen. The point to check is EU-based storage under a contract that fixes that region.