5 things

Channel Brief: IBM Acquires HashiCorp, Thoma Bravo Acquires Darktrace

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Are you an MSP that partners with public cloud service providers? It's time for you to step up and get recognized. ChannelE2E opened its annual Top 250 Public Cloud MSPs survey. This is the survey that we use to create our annual Top 250 Public Cloud MSPs ranked list. Here's the link to participate.

In other news, IBM will acquire HashiCorp to create a massive hybrid cloud platform that the companies said will help streamline application, infrastructure and security lifecycle management. And PE firm Thoma Bravo will acquire Britain's Darktrace, an AI-enabled cybersecurity firm.

Finally, our own Jessica Davis is at Kaseya Connect this week, and we'll be bringing you news and updates from the conference, so stay tuned!

Please check out our industry Mergers and Acquisitions list, updated daily, with an archive that goes all the way back to 2020. Check out the whole thing here. Scroll down for a quick view of upcoming in-person channel and MSP events at the bottom of this post (while we spiff up our industry calendar behind the scenes. It will return!)

And please send your news tips, information, and industry chatter to senior managing editor [email protected].

A. Today’s Tech, Channel and MSP News

1. Time for Cloud MSPs to get recognized - Are you an MSP that works with public cloud providers? It’s time to get recognized for your work. ChannelE2E opened its annual survey for the Top 250 Public Cloud MSPs. If your MSP practice includes working with a public cloud provider, this survey is for you. Participation is free. The survey closes in June. Submit your MSP today here for recognition! Our list will be released this summer.

2. IBM to Acquire HashiCorp: IBM will acquire HashiCorp for $35 per share in cash, for a total value of approximately $6.4 billion, the companies announced last week. Arvind Krishna, IBM chairman and chief executive officer, said the acquisition will "create a comprehensive hybrid cloud platform designed for the AI era." The rise of cloud-native workloads and associated applications is driving a radical expansion in the number of cloud workloads enterprises are managing. In addition, generative AI deployment continues to grow alongside traditional workloads, and the increasingly heterogeneous, dynamic, and complex infrastructure creates massive challengea for technology professionals. The acquisition aims to streamline and simplify application, infrastructure and security lifecycle management, the companies said.

3. Thoma Bravo Acquires Darktrace: Private equity firm Thoma Bravo has added another cybersecurity company to its portfolio with the acquisition of Darktrace for $5.3 billion cash. Darktrace, founded in 2013 with the backing of entrepreneur Mike Lynch (who is currently being tried in the U.S. on fraud charges stemming from his previous company), uses artificial intelligence to detect attacks and vulnerabilities inside IT networks, according to Reuters. Thoma Bravo previously approached Darktrace in 2022, but those talks did not result in an offer. Reuters said Darktrace's board rejected proposed offers from Thoma Bravo before agreeing the deal, according to a statement from the companies.

4. A Stellar Cyber/Acronis Partnership: Last week, Stellar Cyber and Acronis announced a partnership to "deliver an optimized threat detection and response solution enabling MSPs to protect on-premises, cloud, hybrid, and IT/OT environments cost-effectively and efficiently," the companies said. Acronis Cyber Protect Cloud enables managed service providers (MSPs) to deliver integrated backup, disaster recovery, advanced security, and endpoint management at scale while preserving margins and streamlining business operations through powerful automation capabilities and broad integrations. Acronis Advanced Security with Endpoint Detection and Response provides unmatched advanced threat detection and remediation capabilities designed for MSPs. When combined with Stellar Cyber’s Open XDR Platform, MSPs can benefit from streamlined data management, threat detection and correlation, and unmatched visibility, the companies said.

5. Happiest Minds Acquires PureSoftware: India's Happiest Minds, a digital transformation and services company, will acquire 100% of the equity share capital of PureSoftware Technologies Private Limited for US $94.5 million. PureSoftware is a fast-growing digital engineering and transformation services and solutions provider for enterprises in BFSI, healthcare and life sciences, retail and logistics, and gaming and entertainment. Through this acquisition, Happiest Minds strengthens its domain capabilities in BFSI and healthcare and life sciences. The 1,200-person company will augment Happiest Minds' PDES business unit. In addition to augmenting its presence in the U.S., UK and India, Happiest Minds will also get a near-shore presence in Mexico and offices in Singapore, Malaysia, and Africa. PureSoftware reported revenues of US $43 Million for fiscal 2024. 

B. In-Person MSP and Channel Partner Events

  1. Kaseya Connect - April 29-May 2, MGM Grand Resort, Las Vegas
  2. MSP GeekCon - May 19-21, Rosen Plaza, Orlando, Florida
  3. Dell Technologies World - May 20 -May 23, The Venetian, Las Vegas
  4. IT Nation Secure, (hosted by ConnectWise) June 3-5, 2024, Gaylord Palms Resort & Convention Center, Orlando, Florida
  5. Pax8 Beyond, June 9-11, 2024, Gaylord Rockies Convention Center, Denver, Colorado
  6. FLOWAutomation Conference (hosted by Rewst) – June 17- June 19, The Renaissance Tampa International Plaza Hotel, Tampa, Florida
  7. CompTIA ChannelCon, July 30 - August 1, 2024, Atlanta, Georgia, Hyatt Regency Atlanta