- 7 Big Accomplishments: ConnectWise’s Departing CEO Jason Magee
- A Tale of Two CEOs: Rivelo, Magee Talk ConnectWise Strategy, Growth and Cybersecurity
- 5 Things to Know About ConnectWise’s New CEO Manny Rivelo
- ‘This Acquisition is Perfectly Timed’: Commvault Acquires Clumio
Every MSP is involved in cybersecurity or should be involved in cybersecurity. But the world of managed services involves many other technologies, tools and trends as well.
With that in mind each week MSSP Alert brings you the top headlines from our affiliate site ChannelE2E which focuses on MSP tools, M&A, AI, and other topics of importance to service providers.
This week, in a trio of stories, we dig deep into the impact of Jason Magee’s departure as CEO of ConnectWise and the impact that new CEO Manny Rivelo may bring. We also cover Commvault’s acquisition of Clumio.
7 Big Accomplishments: ConnectWise’s Departing CEO Jason Magee
Jason Magee is leaving ConnectWise after almost six years in the top job at the company where he succeeded the founder and visionary leader Arnie Bellini. But Magee was no newbie at ConnectWise when he started as CEO. He joined ConnectWise 13 years ago and served in several roles before he was selected to run the whole thing.
Previous roles included president, chief operating officer, executive VP of strategy and acquisitions, VP of worldwide channels and alliances, VP of worldwide channel sales and director of worldwide channel. Before he even started as CEO, he played an integral part in the success of ConnectWise.
In his earlier roles he oversaw acquisitions including ScreenConnect, the IT Nation Evolve peer groups (previously HTG Peer Groups), the Sienna Group (for MSSP services) and ConnectWise’s investment in Perch Security.
Read the full story on Channel E2E.
A Tale of Two CEOs: Rivelo, Magee Talk ConnectWise Strategy, Growth and Cybersecurity
ConnectWise’s former and new CEOs spoke with ChannelE2E a day after the blockbuster announcement that Jason Magee would step down from the role after five-and-a-half years. Manny Rivelo will lead ConnectWise for the next phase of the company.
What will that mean for ConnectWise going forward? Will Rivelo take the company in any new directions? What are his charters and plans in the months ahead?
Will there be more acquisitions? Personnel changes? An answer to Kaseya 365? An exit strategy for ConnectWise's private equity owner Thoma Bravo?
Read the full story on Channel E2E.
5 Things to Know About ConnectWise’s New CEO Manny Rivelo
ConnectWise has named Manny Rivelo as CEO, succeeding Jason Magee, the top executive who has served in that role since ConnectWise was acquired by private equity firm Thoma Bravo.
While ConnectWise has said that Magee will be on hand for IT Nation in November, all eyes are on the company to ascertain what’s next for the MSP tools platform and community organization.
MSPs privately complain that once a vendor is acquired by private equity, innovation slows down.
ConnectWise is on the timeline for a recapitalization or sale by its private equity (PE) owner Thoma Bravo, which acquired it in February 2019 for an estimated $1.5 billion.
If that’s what’s afoot, Thoma Bravo’s exit could come in several different forms, a sale to another PE firm, a sale to or merger with another technology vendor (possibly a cybersecurity vendor, given the talk earlier this year of a potential Barracuda/N-able deal), or an initial public offering (IPO).
But it's also possible Thoma Bravo may not be looking to sell ConnectWise in the near term. Thoma Bravo could hold ConnectWise and further invest in the company. ConnectWise's recent acquisitions of Axcient and Skykick could be clues as to the trajectory of that approach. Or Thoma Bravo could merge ConnectWise with another of its portfolio companies or another that it plans to acquire in the future.
Again, a cybersecurity company may make sense. Thoma Bravo claims to have one of the largest cybersecurity portfolios in private equity and it also includes investments in SonicWall, N-able, Barracuda and Sophos.
Read the full story on Channel E2E.
‘This Acquisition is Perfectly Timed’: Commvault Acquires Clumio
Cyber resilience and data protection firm Commvault has acquired Clumio for an undisclosed sum.
This is technology M&A deal number 213 that ChannelE2E and MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.
The acquisition of Clumio, which provides protection for cloud data in AWS, will bolster Commvault’s AWS offerings, particularly around Amazon S3 and DynamoDB, which are critical in the AI-driven landscape, according to Alan Atkinson, chief partner officer at Commvault.
“Their innovative cloud-native technology fits perfectly with our SaaS offerings, and their expertise will help us strengthen our position as the leader in cloud data protection and cyber resilience," Atkinson explained to ChannelE2E.
