These are M&A deals number 458 and 459 that ChannelE2E has tracked so far in 2020. See the complete M&A deal list here.
The acquisitions, rumored since last week, may empower ConnectWise with more intellectual property and automation capabilities to drive down the cost of delivering cybersecurity via MSPs, ChannelE2E believes.
ConnectWise Security Acquisitions: Positioning and Background
ConnectWise says the deals are complementary to each other. For instance:
- Perch provides an MSP-designed SIEM, which monitors end-customer systems for cyberattacks.
- StratoZen’s automation and data analysis capabilities will take the data gathered from the Perch SIEM and turn it into actionable insights. This will help MSPs significantly reduce false positives and respond faster and more accurately, with less staffing resources, ConnectWise asserts.
Both Perch and StratoZen have healthy histories working with MSPs, according to previous ChannelE2E and MSSP Alert coverage. Here's a timeline of developments to note:
- July 2020: Perch Security Launches Threat Monitoring for MSP RMM software
- July 2020: StratoZen updates client portal
- October 2019: Cisco, Perch Security Ink Partnership
- July 2019: Perch Security's MDR & SOC Strategies for MSPs
- October 2018: ConnectWise, FishTech Invest in Perch Security
- February 2018: StratoZen Unveils SIEM, SOC as a Service Upgrades for MSPs, MSSPs
ConnectWise Security Acquisitions: Executive Perspectives
In a prepared statement about the acquisitions, ConnectWise CEO Jason Magee said:
“Just as we sought to control the 'Silos of Chaos’ with our PSA and RMM solutions, we are now doing the same for cybersecurity. We want to make cybersecurity less complex for TSPs by providing technology that makes it easy to collect, assess and respond to security data from many different point products. These acquisitions are about far more than the technology; we are gaining extremely talented and innovative colleagues with a deep understanding of cybersecurity, and a laser focus on what their partners need to succeed. Aharon and the entire team at Perch have built a tremendously strong brand and partner experience over the past four years. We’re going to infuse these strengths into the ConnectWise brand and partner experience.”
Added Aharon Chernin, CEO, Perch Security:
“Four years ago we set out to make advanced threat detection attainable for small and mid-size business; and ultimately, the best way to accomplish that was working closely with our MSPs and the MSP community. It’s been extremely rewarding to see MSPs find the value in our offering and even more so to add functionality they told us they needed most: SIEM technology, integrations with the tools they use, and more. There is more work to do – we’ve very excited to join the ConnectWise family and work to solve the full set of security challenges MSPs struggle with.”
Concluded Kevin Prince, CEO, StratoZen:
“The team at StratoZen has leveraged our deep security expertise to help MSPs identify security threats from what can seem like an overwhelming amount of information and alerts. We’re delighted to join ConnectWise along with our new colleagues from Perch. Our collective expertise and solutions are unmatched in the industry and will enable MSPs to confidently protect themselves and their clients like never before.”
ConnectWise Security Portfolio
ConnectWise gained some SOC capabilities via the Continuum acquisition of 2019. ChannelE2E is checking to see if or how those capabilities will align with the Perch Security and StratoZen acquisitions.