- Broadcom Changes Channel Chief: Cindy Loyd Out
- Cybersecurity Vendors Q3 Revenue Growth Fueled by Partners and MSPs
- TeamViewer Acquires 1E DEX Platform for ‘Strategic Expansion’
- CDW Acquisition, Mission Cloud, Named AWS Security Partner of the Year
Each week, MSSP Alert brings you channel-focused business news from our affiliate site ChannelE2E.
We know that security service providers care about more than cybersecurity. There are business issues, news about tools, artificial intelligence advancements, and more. This week, we wonder who Broadcom will name as its new channel chief, discuss CDW's acquisition of Mission Cloud and TeamViewer's 1E buy. And we explore cybersecurity vendors' Q3 growth driven by partners and MSPs.
Here’s a look at the top headlines for the week from ChannelE2E.
Broadcom Changes Channel Chief: Cindy Loyd Out
Broadcom's channel chief role is currently vacant.
Cindy Loyd, who served as Broadcom's vice president of global partners and global commercial sales, will move to a new role within the company, Broadcom announced today. In a prepared statement, the company told ChannelE2E it would announce a new channel chief in the new year.
Loyd has been with Broadcom for more than six years. She started as vice president of global partners and global commercial sales for VMware partners in November 2023, just as Broadcom acquired VMware for $69 billion.
Before joining Broadcom, Loyd was with CA Technologies, where she worked since 1991. Her last role there was vice president of global sales and global renewal portfolio. Broadcom acquired CA Technologies in 2018.
Cybersecurity Vendors Q3 Revenue Growth Fueled by Partners and MSPs
The 16 largest publicly listed cybersecurity vendors saw their Q3 2024 revenue grow by an average of 14.2%, due largely to monetary investments they made with partners, which are then helping them bring in more business.
And that significant partner-inspired growth in the global cybersecurity industry will become even more important in 2025 for vendors, their partners and MSPs, wrote Jay McBain, an analyst for Canalys, in his latest quarterly cybersecurity market report.
In a recent post on LinkedIn, McBain detailed several interesting developments in the global cybersecurity sector in Q3, including, “[T]he market opportunity is growing in solid double-digits and will reach $97 billion in hardware/software sales next year. Partners will continue to add $2 to every $1 in vendor sales, growing this overall industry to just shy of $300 billion in 2025.”
Those are impressive numbers and results that benefit the vendors and their partners as they serve their diverse and growing customer bases worldwide, wrote McBain.
TeamViewer Acquires 1E DEX Platform for ‘Strategic Expansion’
Remote connectivity and digital workplace services vendor TeamViewer is bolstering its services to MSPs and other customers by acquiring digital employee experience (DEX) platform vendor 1E, which provides autonomous IT support for users and IT service desk teams.
Under the $720 million deal, 1E’s autonomous DEX platform will be integrated with TeamViewer’s remote access and support platform to help customers proactively prevent IT support issues from negatively affecting their operations and drive increased revenue for service providers. TeamViewer’s connectivity platform allows companies to remotely access, control, manage, monitor, and repair devices of any kind – from laptops and mobile phones to industrial machines and robots.
“This move is a key part of TeamViewer’s strategy to create an end-to-end offering to address any IT issue,” Oliver Steil, the CEO of TeamViewer, told ChannelE2E. “By combining TeamViewer’s remote access and support solutions with 1E’s DEX technology, we will create a ... one-stop-shop for IT operations, intelligent endpoint management and enhanced user experience in the digital workplace.”
1E’s DEX platform is designed to deliver real-time visibility of enterprise IT landscapes, giving MSPs and technicians insights so they can identify problems as they arise and automatically make repairs at affected endpoints, according to the companies.
CDW Acquisition, Mission Cloud, Named AWS Security Partner of the Year
CDW has acquired Mission Cloud Services, Inc. an AWS Premier Tier Partner which specializes in cloud managed services and consulting, AI innovations, and software. Mission Cloud was also just named Security Partner of the Year by AWS. The deal will help CDW expand its Digital Velocity cloud, data, AI and software platform offerings for small and mid-market customers.
Mission Cloud's sale represents a liquidity event for its private equity backer Great Hill Partners. The company will become part of CDW’s dedicated AWS practice to bolster its existing cloud expertise, market scale and solution capabilities, according to the companies. Terms of the deal were not disclosed.
CDW is based in Vernon Hills, Illinois. It has 17,884 employees, according to LinkedIn, and does business in the United States, the United Kingdom and Canada. Mission Cloud has 304 employees, according to LinkedIn. Mission Cloud is based in Los Angeles. Mission was just named AWS Security Partner of the Year.
“CDW had a gap in their cloud services when it came to small- to mid-sized businesses that want such services,” analyst Rob Enderle, principal of Enderle Group, told ChannelE2E. “They acquired Mission Cloud Services to fill that gap.”
