Zix, which develops email security, backup, disaster recovery and cloud services for MSPs, has hired Citigroup to explore a potential company sale, Reuters reported.Zix and Citigroup declined to comment for that report, and there's no guarantee that an actual Zix company sale will occur, the report said.Amid the M&A speculation, Zix stock ($ZIXI) rose 9 percent in pre-market training ahead of Wall Street's open on October 19, 2021. Zix's market capitalization is $421 million, according to SeekingAlpha.Acronis has pivoted from traditional backup to cyber protection, and will tout new milestones during the #CyberFit 2021 conference in late October 2021. OpenText acquired Carbonite and Webroot in 2019, and announced an MDR (managed detection and response) partnership with Blackpoint Cyber. MSP platform providers Barracuda, ConnectWise, Datto, Kaseya, N-able and NinjaRMM all have some form of backup and/or cybersecurity technology under ownership. In some ways, the Zix portal also competes with distributors and cloud solutions providers such as Pax8 and Sherweb.We'll be watching to see if MSP software platform providers and/or private equity firms step forward to bid on Zix.
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