MSSP M&A: CloudWave Acquires Sensato for Healthcare Cybersecurity Services
CloudWave, backed by private equity firm Abry Partners, has acquired Sensato, a managed cybersecurity services company. Both IT service providers focus exclusively on the healthcare sector. Financial terms of the deal were not disclosed.
This is technology M&A deal number 1,000 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
CloudWave Acquires Sensato: Healthcare IT Security Details
Sensato, founded in 2013, is based in Red Bank, New Jersey. The company has 15 employees listed on LinkedIn. Sensato’s cybersecurity platform spans network monitoring, intrusion detection and asset fingerprinting. The company also runs a 24×7 security operations center (SOC) for healthcare infrastructure and connected devices. Founder John Gomez shifts to chief security and engineering officer at CloudWave.
CloudWave, founded in 1991, is based in Marlborough, Massachusetts. The company has 162 employees listed on LinkedIn. CloudWave delivers enterprise cloud services to more than 250 hospitals and healthcare organizations, supporting 125+ EHR, clinical, and enterprise applications, the company said.
The combined business will enable hospitals to implement a fully managed cybersecurity program, resulting in full HIPAA and NIST compliance, with end-to-end service and support from a single provider, CloudWave said.
CloudWave Buys Sensato: Executive Perspectives
In a prepared statement about the deal, CloudWave President and CEO Erik Littlejohn said:
“As a managed cloud service provider to hundreds of hospitals, CloudWave has witnessed how devastating a cyber event can be to healthcare organizations. Unfortunately, the frequency of these attacks continues to rise—an increasing number of customers have called upon CloudWave for rapid response services to help halt and remediate cyberattacks on their on-premises systems in just the last two years. With the addition of the innovative, proprietary technologies included in the Sensato Cybersecurity suite, along with the cyber expertise of the Sensato team, CloudWave will be able to offer customers the high-level cybersecurity we provide for our cloud-based delivery to on-premises systems.”
Added Sensato founder John Gomez:
“We’re excited to become part of the CloudWave family. The promise of what we’ll be able to collaboratively provide to the healthcare community with our combined expertise securing and delivering IT services is beyond measure.”
Abry Partners: MSP, MSSP and IT Consulting Investments
Private equity firm Abry Partners has owned CloudWave since February 2021. Abry has an intensive history in both the MSP and CSP sector. The private equity firm’s key moves include:
- May 2021: Investing in SDI Presence LLC.
- January 2021: Options Technology, backed by Abry Partners, acquiring managed trading service provider Fixnetix from DXC Technology.
- September 2020: NexusTek, backed by Abry Partners, acquired Symmetrix Solutions.
- November 2020: Searchlight Capital Partners and Abry Partners launched a new standalone UCaaS company called Clearspan.
- February 2020: Avbry made a minority investment in Asignet, an MSP preparing to launch a robotic process automation (RPA) platform called Robot4IT.
- January 2020: Abry Partners acquired Options Technology, a cloud-centric MSP in the financial services market.
- January 2019: Investing in Options Technology, an MSP that offers managed cloud applications to financial services firms.
- August 2018: Backing NexusTek, an MSP that made three acquisitions in August 2018.
- December 2017: Abry Partners helped NexusTek recapitalize its business in December 2017.
Founded in 1989, Abry Partners currently manages over $5 billion of capital across its active funds.