CyGlass, a network defense-as-a-service (NDaaS) platform provider, has finalized a management buyout from the Nominet UK group.
Previously, Nominet acquired CyGlass in February 2020.
This is technology M&A deal number 587 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
CyGlass, founded in 2000, is based in Littleton, Massachusetts. The company has 29 employees listed on LinkedIn. CyGlass' areas of expertise include computer and network security.
Nominet, founded in 1996, is based in Oxford, England. The company has 300 employees listed on LinkedIn. Nominet's areas of expertise include technology and cybersecurity.
CyGlass Gains Independence
The management buyout enables CyGlass to operate as an independently owned cybersecurity company, according to a prepared statement. CyGlass will retain its engineering, support, sales and management staff.
Meanwhile, CyGlass is "moving toward" a Series A round of funding, the company announced. It closed a record 2021 with 400% year-over-year bookings growth and tripled its customer base and partner network from the previous year . CyGlass is now poised to expand its operations.
CyGlass is focused on expanding the NDaaS platform to integrate with endpoint detection and response (EDR) vendors and expanding across cloud services, the company stated. It also will look for ways to further enhance its platform.
CyGlass Eyes MSSP, MSP Partnerships
The CyGlass management buyout comes after the company expanded its Velocity global channel partner program in November 2021.
CyGlass introduced Velocity financial incentive programs and co-marketing funds to help MSSPs and MSPs drive demand and boost margins, the company stated. It also upgraded its partner portal, demo environment and sales and marketing tools for MSSPs and MSPs.
More than 50 channel partners worldwide have joined Velocity to date. CyGlass operates as a 100% channel-focused company and continues to explore opportunities to partner with MSSPs and MSPs.
