Each week, MSSP Alert brings you to the top cybersecurity news for MSSPs and MSPs. But we know that as business professionals, there’s more to your operation than cybersecurity news. That’s why each week, we also bring you a round-up of the important business news in the channel for service providers and other channel partners.
This week, we have details about CyberArk's completed acquisition of Venafi, which values the company at $1.5 billion. N-able's Stefanie Hammond is helping us launch our Perspectives series, thought leadership pieces from channel, MSP, distribution and IT services professionals, with great insight into co-managed IT services. Our editorial director, Jessica C. Davis, talked with Cogent Growth Partners about what makes a 'quality' MSP and an AI Alliance from TD Synnex and Intel help partners navigate the hype surrounding artificial intelligence. Here's our roundup.
- The Co-Managed IT Playbook: Maximizing MSP Efficiency Through Collaboration
- MSP M&A Market Talk: What Makes a “Quality” MSP?
- TD Synnex, Intel AI Alliance Helps MSPs Navigate ‘A Lot of Hype’
- CyberArk Completes $1.5B Acquisition of Venafi
The Co-Managed IT Playbook: Maximizing MSP Efficiency Through Collaboration
Commentary: Co-managed IT support and services have gained significant traction in recent years. One primary reason is the sheer number of employees working from anywhere, including the office. Today’s hybrid workforce has made it harder for internal IT departments to protect and securely manage the workforce proactively. It’s also introduced the need for more automation, controls, and processes and heightened the importance of cybersecurity and compliance.
As a result, corporate “IT insiders” are desperately seeking reinforcements to help share or carry the load and responsibility, especially when implementing additional data and security measures. Layer on the increased interest and use of AI by corporations and their teams, and you’ve got a perfect storm of opportunity for MSPs with co-managed services at the ready.
Co-managed IT is a hybrid approach where internal IT staff work in tandem with external MSPs to manage an organization’s IT infrastructure. This model offers flexibility, scalability, and access to specialized knowledge that might be beyond the scope of an in-house team alone. By leveraging the combined strengths of both parties, businesses can ensure robust, efficient, and cost-effective IT management.
MSP M&A Market Talk: What Makes a “Quality” MSP?
What's a "quality" MSP, and does your business fit that description? When it comes to mergers and acquisitions in the managed service provider channel, quality has a specific meaning.
In this episode of our video series about M&A in the MSP channel, Cogent Growth Partners leaders Bruce Teichman and Rick Murphy join ChannelE2E editorial director Jessica C. Davis to talk about "quality" MSPs.
The discussion focuses on what makes an MSP a desirable target for another MSP or a private equity firm as a potential acquisition. Teichman and Murphy share their insights on this question based on their years of experience on the ground putting buyers together with sellers and getting deals done.
TD Synnex, Intel AI Alliance Helps MSPs Navigate ‘A Lot of Hype’
As AI products and services bombard large enterprises with promises of generative AI features, AI-enablement, and broad AI possibilities, MSPs are often left on their own in the marketplace to figure out how the AI tsunami will affect them and their SMB customers.
To battle that conundrum, global technology distributor TD Synnex joined with Intel in June to create a Destination AI Practice Accelerator that aims to provide direct help and advice to MSPs on how to bring in AI technologies and services to help their businesses grow.
“A lot of the mid-market small business partners I'm talking to are experimenting with and using generative AI tools internally,” Sherry Bennett, chief data and AI scientist at TD Synnex, told ChannelE2E. “They are creating little products for themselves internally. This can lead to products that they take to market.”
The problem, though, is that there is a lot of hype, said Bennett, along with the need for better AI implementation advice and more.
CyberArk Completes $1.5B Acquisition of Venafi
Identity security company CyberArk is expanding its machine identity security offering with the acquisition of Venafi from Thoma Bravo for $1.5 billion.
The deal, first announced in May 2024, expands CyberArk’s total addressable market by $10 billion to approximately $60 billion, according to the company.
Machine identities are the digital certificates, keys, and credentials that allow machines like computers, servers, and other devices to communicate securely. These identities are now the fastest-growing and most complex type of identity, requiring advanced tools for proper management and security.
With the Venafi team on board, CyberArk says it will build end-to-end machine identity security solutions to help organizations improve security and stop costly outages. These solutions can be deployed as SaaS or hybrid, enabling faster risk mitigation for organizations of all sizes looking to secure modern cloud environments.
