5 Channel Partner Program and MSP Market News Updates: 04 August 2022
Greetings and salutations. Here are five (actually, more) technology news updates, insights, chatter, and plenty more to start your day for Thursday, August 4, 2022. Sip up.
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- Who We Serve: Content for managed services providers (MSPs), IT service providers (ITSPs), cybersecurity consultants, technology solutions providers (TSPs), systems integrators, VARs, independent software vendors (ISVs), distributors and any other partner acronym that further caffeinates our already stellar SEO.
- Frequency: Typically every business morning.
- Reaching the Barista: Send news, tips and rumors to Executive VP & Editorial Director at [email protected].
A. Today’s Technology, Channel Chief and MSP Partner Program News
1. M&A Advisors – MSPs: Cogent Growth Partners assisted Meriplex in its asset acquisition of Cyberian Technologies. Cogent is a well-known M&A advisor that has helped dozens of MSPs on their M&A transactions.
2. Channel Chief – Cybersecurity: Managed Detection and Response (MDR) security provider Deepwatch has hired CyCognito veteran Lori Cornmesser as senior VP of global channel sales and alliances.
3. Executive Leadership – Cisco Veteran Joins Fastly: Cisco Systems veteran Todd Nightingale has joined edge cloud platform provider Fastly as CEO. He succeeds Joshua Bixby, who becomes an advisor to Fastly.
4. Partnership – Data Warehouse Migrations: Next Pathway is collaborating with Microsoft to help partners and customers migrate legacy data warehouses and data lakes to Microsoft Azure. The effort involves Pathway’s SHIFT Migration Suite.
5. Partner Program – Data Transformation: dbt Labs has launched the dbt Labs Technology Partner Program to assist partners with data transformation projects.
6. Partnership – Pax8 and Intuit: The Pax8 cloud marketplace now offers Intuit’s QuickBooks Online to MSPs in. North America.
7. Government IT Support: SolarWinds has launched the following services to support public sector customers…
- Federal Premium Support;
- Monalytic Federal Professional Services; and
- Monalytic Federal Deployment Services – Fixed Scope.
The new SolarWinds government services follow the Monalytic acquisition of January 2022. SolarWinds did not say how it will coordinate the government IT services with channel partners.
B. Technology Industry Quarterly Financial Results
Multiple companies announced quarterly financial results. Here’s a sampling of the earnings…
1. Cybersecurity Awareness Training: KnowBe4 revenue was $80.8 million in Q2 of 2022, up 36.1% from q2 of 2021. Net income was $3.3 million, a considerable improvement from a $16.8 million net loss in Q2 of 2021.
2. Cloud-based Monitoring and Security: Datadog revenue was $406 million in Q2 of 2022, up 74% from Q2 of 2021. The company’s net loss was $4.9 million in Q2 of 2022, an improvement from a $9.3 million net loss in Q2 of 2021.
3. Enterprise MSP: Kyndryl revenue was $4.3 billion for Q1 of fiscal 2023, down 10% from the corresponding quarter last year. The company’s net loss was $250 million, which was smaller than a $389 million net loss in the corresponding quarter last year. Kyndryl, a managed infrastructure provider for enterprise customers, spun off from IBM in 2021.
4. IT Solutions Provider: CDW net sales were $6.1 billion in Q2 of 2022, up 19.4% from Q2 of 2021. Net income was $279.3 million, up 1.9% from the corresponding quarter last year.
5. IT Consulting and Service Provider: Perficient revenue was $222.7 million for Q2 of 2022, up 21% from the corresponding quarter in 2021. Net income was $27.8 million, up 68% compared to Q1 of 2021.
6. Network Security: Fortinet revenue was $1.03 billion in Q2 of 2022, up 28.6% compared to Q2 of 2021. GAP net income was $173.5 million — up from $137.5 million in the corresponding quarter last year.
7. Security Analytics and Automation: Rapid7‘s revenue was $167 million in Q2 of 2022, up 32% from the corresponding quarter last year. GAAP net loss was $39.6 million, larger than a $34.2 million net loss in Q2 of 2021.
C. In-Person Channel Partner Summits & MSP Conferences
- Black Hat USA (August 6-11, Las Vegas)
- VMware Explore 2022 (formerly VMworld, August 29-September 1, San Francisco)
- DattoCon 2022 (September 11-13, Washington, D.C.)
- Join Us: MSSP Alert Live 2022 (September 19-21, Washington, D.C.)
- Salesforce Dreamforce 2022 (September 2022, San Francisco)
- All Tech Conferences: Listed Here
- Add Your Annual Event To Our Calendar: Submit it here for consideration.