Intronis -- the cloud backup and data protection service for MSPs -- is performing well under Barracuda Networks' ownership, and is preparing to push into subscription security services, according to CEO BJ Jenkins.
Barracuda acquired Intronis in September 2015, and now refers to the business as Intronis MSP Solutions by Barracuda Networks. So far, the Intronis business is performing well under Barracuda's ownership -- meeting the parent company's financial expectations, according to Jenkins' statements to Wall Street analysts on April 26.
During a Q&A session, Jenkins said Intronis generated more than $6 million in Q4 bookings. He suggested the figure could accelerate since Barracuda is diversifying Intronis' product line while also expanding in the United Kingdom.
Indeed, Barracuda expects Intronis to generate 25 percent growth in 2016, Jenkins added. Among the potential contributors to that growth: MSP-centric network security appliances (available on a monthly subscription basis) are expected to debut "in the next couple of months," he said. He also praised the Intronis management team -- stating that it has been "doing a great, great job."
Intronis & Barracuda: MSP Progress, Competition
That's solid news, but Intronis MSP Solutions by Barracuda face plenty of competition. Among the examples:
- Acronis, led by former Parallels executives, has lined up 300 Cloud Service Providers as partners,
- Carbonite announced surprisingly strong momentum with SMB channel partners and MSPs earlier today.
- Continuum has successfully diversified beyond RMM (remote monitoring and management) and NOC (network operations center) services to offer BDR (backup and disaster recovery) options.
- Datto remains in rapid growth mode, pushing into file and sync services while preparing Datto Network Appliance -- an SMB network switch -- for release sometime this year.
- eFolder is pushing beyond its MSP heritage and extending its platform to distributors and VARs.
- And just yesterday, Virtustream — an EMC business — announced Storage Cloud extensions that service providers can white label.
On the upside for Barracuda, the company has managed to retain key Intronis employees --including GM Rick Faulk, Senior Director of Channel Development Neal Bradbury, and other leaders who are experts in the MSP market.