5 Channel Partner & MSP Market News Updates: 24 January 2023
Rumors swirl about the potential for Sumo Logic to be acquired, Salesforce's activist investor and more in today's MSP and channel news.
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Here are five technology news updates, insights, chatter, and plenty more to start your day for Tuesdsay, January 24, 2023. Sip up.
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A. Today’s Technology, Channel Chief and MSP Partner Program News
- Sumo Logic Acquisition Rumours: Sumo Logic may be on the acquisition block, according to a report from The Information, which cited an individual familiar with the matter. The rumor is that the publicly traded, cloud-based application monitoring software provider has attracted interest from private equity firms Francisco Partners, Thoma Bravo, and Vista Equity Partners, the Information reported. The news sent Sumo Logic’s stock up more than 30 percent.
- Salesforce’s Activist Investor: Meanwhile, Salesforce appears to be the target of an activist investor. Citing a source close to the situation, CNN reported that Elliot Management has taken a multi-billion dollar stake in the company. Elliot has taken activist stakes in Pinterest, PayPall, Twitter, and AT&T in the past and they now appear ready to shake things up at Salesforce, which saw a dismal 2022 with stocks falling about 40% during the year.
- Financial Services Funding: Financial services provider Twinco Capital has closed a $12 million equity and debt round. The investment was led by Quona Capital, and included participation from Working Capital, as well as existing investors Mundi Ventures and Finch Capita, the company saidl. Zubi Capital provided the venture debt portion. The funds will be used to accelerate the company’s expansion within the major sourcing countries and strengthen its technology and data capabilities, in particular in relation to ESG, Twinco said in a prepared statement.
- MSP M&A: Digital transformation and managed services company DMI has acquired Simplex Mobility, a provider of asset and expense management software, for an undisclosed amount. The acquisition will help enhance DMI’s existing managed services offering, the company said.
- Technology Services M&A: Grain Management, an investment firm and solutions provider to the global broadband industry, has acquired Spectrotel, a next-generation aggregator and integrated technology services provider. Financial terms were not disclosed. Spectotrel founder and CEO Jack Dayan will retain a minority stake and Ross Artale, Spectrotel’s President and COO will take on the position of CEO, the company said.