MSSP M&A: ThinkStack Acquires Financial Services Security Company Emergifi
This is technology M&A deal number 458 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
The Emergifi acquisition allows ThinkStack to expand its cybersecurity service offerings and packaged solutions, ThinkStack CEO Chris Sachse stated. In doing so, ThinkStack can serve a larger portion of the credit union marketplace and meet the needs of small and large credit unions.
A Closer Look at Emergifi
Emergifi is a credit union service organization (CUSO) that provides technology solutions that improve security and productivity and reduce risk and costs, the company said. It offers a variety of security services, including:
- Endpoint security management
- Password management
- Security surveillance
- SSL certificate management
In addition, Emergifi provides backup and disaster recovery (BDR), remote monitoring and management (RMM) and other managed services. Emergifi also has partnered with Sophos, TraceSecurity and other cybersecurity companies.
ThinkStack Raises $5 Million, Becomes CUSO
The Emergifi acquisition comes after ThinkStack in May 2021 secured $5 million in funding, according to Technical.ly. ThinkStack has been using the funding to further enhance its ability to develop, build and manage cloud environments and security architecture for credit unions.
Along with adding funding, ThinkStack in May 2021 became a CUSO. As such, ThinkStack primarily serves credit unions and can receive investments from them.
ThinkStack delivers breach response, endpoint detection and response (EDR) and other managed security services to credit unions. It does not currently offer a channel partner program but may look to provide one in the future.