Acronis Backup: MMS service does not start on a machine restored with bootable media

Symptoms

1. You recover a machine from a disk backup using Acronis Bootable Media 

2. After recovery, MMS service does not start. If you try to start it manually, you get an error "Error 1053: The service did not respond to the start or control request in a timely fashion"

Since MMS cannot be started, the machine cannot be registered, with a message similar to Connection to the backup service has been lost.