ThreatLocker has acquired Third Wall -- which develops the RMM Plus security plug-in for ConnectWise Automate users. The move could potentially help ThreatLocker to stop software supply chain security attacks that target ConnectWise's remote monitoring and management (RMM) software, which thousands of MSPs run worldwide. Financial terms of the deal were not disclosed.
This is M&A technology deal number 956 that MSSP Alert and sister site ChannelE2E have covered so far this year.
RMM Software and MSPs: Tempting Cyberattack and Ransomware Attack Targets
In terms of M&A deal size, the Third Wall acquisition represents a small tuck-in acquisition for ThreatLocker. Still, the deal potentially has strategic importance to MSP partners.
Multi-tenant MSP software -- such as ConnectWise Automate, Kaseya VSA and N-able -- provide tempting targets for hackers, since attacking one software platform can potentially provide a doorway into multiple downstream customer systems. Amid that backdrop, the CISA, FBI and UK authorities have repeatedly warned MSPs about inbound ransomware attacks.
The latest joint warning, issued in May 2022, included 12 tips to help MSPs reduce ransomware cyberattack threat risks. Separately, Microsoft issued a ransomware cyberattack warning to small businesses and their IT service providers in July 2022.
Together, ThreatLocker and Third Wall want to mitigate those risks.
ThreatLocker, founded in 2017, is based in Maitland, Florida. The company has 213 employees listed on LinkedIn. The company's flagship software -- known as ThreatLocker Control Suite -- combines Application Whitelisting, Ringfencing, Storage Control, and Elevation Control solutions in ways that make security simple, the company says. ThreatLocker as of April 2022 has raised at least $124.5 million in funding.
Third Wall, founded in 2015, is based in Largo, Florida. The company has four employees listed on LinkedIn. The Third Wall acquisition will "result in the deployment of 58 policies to limit vulnerabilities and join ThreatLocker's Allowlisting and Ringfencing solutions to prevent ransomware and other unknown exploits," the buyer said.
ThreatLocker Acquires Third Wall: Executive Perspectives
In a prepared statement about the deal, ThreatLocker CEO Danny Jenkins said:
“Rapid advances in ransomware and other cyber attacks have significantly compromised the security of user endpoints. As security practitioners, the onus is on us to keep up with these threats and prevent damage to our clients by utilizing the proper controls This new partnership with Third Wall will allow ThreatLocker to deploy emergency actions and ensure users are HIPAA, PCI, NIST, GDPR, and SOX compliant."
Added Scott Springer, CEO of Third Wall:
"ThreatLocker's deny by default approach, coupled with their ransomware prevention techniques, are a perfect fit, protecting individuals from today's and tomorrow's attacks. Not only does it give exceptional protection for our existing clients, ThreatLocker's global reach and 24/7 support will further bolster the Third Wall plug-in and give Managed Service Providers that competitive edge to strengthen their security offerings."
Latham & Watkins acted as legal counsel for ThreatLocker and CoreX Legal acted as counsel for Third Wall in connection with the deal.
ConnectWise Security Efforts
Meanwhile, ConnectWise itself also continues to boost its cybersecurity practices and options for MSPs.
New capabilities announced at last week's IT Nation Connect 2022 conference include ConnectWise Vulnerability Management; SASE by ConnectWise and Exium; and IAM by ConnectWise and Evo.
