Here are five (actually, more) technology news updates, insights, chatter, and plenty more to start your day for Tuesday, February 9, 2021. Sip up.
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- Who We Serve: Content for managed services providers (MSPs), IT service providers (ITSPs), technology solutions providers (TSPs), cloud services providers (CSPs), IT consulting firms, systems integrators, VARs, independent software vendors (ISVs), and any other partner acronym that further caffeinates our already stellar SEO.
- Frequency: Every business morning.
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A. What’s Brewing Today: Technology News
2. Launch - Channel Strategists: EagleTEQ Advisors has launched to serve technology solution providers (TSPs) and distributors. The company offers business planning, strategy, go-to-market, and distribution plans. The launch team includes technology industry veterans Curt Allen, Ken Bisnoff, Steve Braverman, Mike Cromwell and Cardi Prinzi.
3. Azure Expert MSP: Softline, a Top 250 Public Cloud MSP, completed a progress audit in December of 2020 to retain its Microsoft Azure Expert Managed Service Provider (MSP) status for the second consecutive year.
4. Datto Credit Rating - Moody's Review: Moody's has completed a periodic review of Datto. The MSP-focused technology company received a B1 rating based on "Datto's increased financial flexibility after the IPO and Moody's expectations for a moderate financial risk profile." Moody's view of Datto is summarized in this paragraph from the bond credit rating service:
"Moody's expects revenue growth in the low to mid-teens percentages and annual free cash flow of approximately $80 million over the next 12 to 24 months. The company's increasing investments to accelerate its growth will constrain operating cash flow. Datto's credit profile is supported by its high proportion of recurring, subscription revenues with good retention characteristics. Datto has very good liquidity. The rating is constrained by Datto's moderate operating scale and highly competitive markets. In addition, the B1 rating reflects the risk of shareholders-friendly financial policies as a result of the majority equity ownership by financial sponsors after the IPO.”
Datto is scheduled to announce Q4 2020 quarterly results on March 11, 2021.
5. Avaya Quarterly Earnings Results: Avaya has disclosed Q1 of fiscal 2021 financial results. The figures include:
- Revenue of $743 million, up 4 percent vs. the corresponding quarter last year.
- GAAP net loss of $4 million, compared to a $54 million net loss in the corresponding quarter last year.
Avaya CEO Jim Chirico pointed to "strong traction across all segments" and increased Avaya's guidance for overall revenue, ARR (annual recurring revenue), profitability and cash flow from operations (CFFO) for the current fiscal year.
6. Lawsuit: Intel sued former employee Varun Gupta, alleging Gupta took trade secrets with him when he joined Microsoft, and used the information to gain an advantage in subsequent business negotiations with Intel. Gupta allegedly loaded Intel trade secrets onto two USB drives before quitting and later accessed them on his Microsoft-issued laptop, Oregon Live reports. Litigation indicates Intel and Microsoft worked together to investigate the incident, the report says. Gupta could not be reached for comment about the alleged crime.
B. Channel Partner Summits, MSP Conferences and Virtual Events Calendar
- Microsoft Ignite 2021 (March 2-4, Virtual)
- Channel Partners Conference and Expo (March 2-4, Virtual)
- Reinforce AI Conference Powered by Ericsson (March 3-5, Virtual)
- CloudFest 2021 (March 23-25, Virtual)
- Cisco Live 2021 (March 30-April 1, Virtual)
- ChannelE2E’s complete event calendar
- Add Your Annual Event To Our Calendar: Submit it here