IT solutions provider and consultant Trace3 has purchased cybersecurity company Set Solutions for an undisclosed sum, according to a prepared statement.
This is technology M&A deal number 96 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
Trace3, founded in 2002, is based in Irvine, California. The company has 1,185 employees listed on LinkedIn. Trace3's areas of expertise include cloud, IT operations and data and analytics.
Set Solutions, founded in 1992, is based in Houston, Texas. The company has 80 employees listed on LinkedIn. Set Solutions' areas of expertise include application, cloud and data security.
Trace3 Expands Cybersecurity Capabilities
The Set Solutions acquisition aligns with Trace3's strategic expansion plan, the companies said. It bolsters Trace3's cybersecurity capabilities and extends the company's reach in the commercial and enterprise markets. Set Solutions also increases Trace3's footprint in the southern portion of the United States.
Meanwhile, Set Solutions customers can now access Trace3's technology portfolio, including its cloud, security, data center and data and analytics offerings, the companies stated. Trace3's portfolio helps Set Solutions "meet more of clients' needs and meet them faster," Set Solutions CEO John Marler said.
In addition, Set Solutions' engineering, sales and management personnel are joining Trace3. They will help the company deliver "an advanced portfolio of software, hardware, consulting and professional and managed services," the businesses indicated.
Trace3 Eyes Cybersecurity Partnerships
The Set Solutions acquisition comes after Trace3 in February 2023 announced a partnership with Deepwatch. Trace3 has integrated several Deepwatch services into its portfolio, including:
- Managed Detection and Response (MDR) powered by the Deepwatch security operations platform and the company's dedicated security experts
- Managed Extended Detection & Response (MXDR)
- Managed Endpoint Detection & Response (EDR)
- Managed Vulnerability Management Firewall Management
Previously, Trace3 in September 2022 partnered with Symmetry Systems, a hybrid cloud data security platform provider. The partnership enables Symmetry Systems to offer its DataGuard platform in new markets, the company said. It also allows Trace3 and Symmetry Systems to provide their joint customers with "holistic data security," the businesses indicated.
Trace3 helps organizations build, migrate and operate their IT both on premises and in the cloud, the company noted. Along with Deepwatch and Symmetry Systems, Trace3 has established strategic partnerships with at least 30 cybersecurity and technology companies.
