NetEnrich and ThreatLandscape are merging. The combined company, under the NetEnrich banner, will offer outsourced IT services and cybersecurity capabilities to midmarket channel partners, IT service providers and businesses. Financial terms were not disclosed.
NetEnrich President & CEO Raju Chekuri leads the combined company. ThreatLandscape CEO Praveen Hebbagodi shifts to CTO at the combined businesses. NetEnrich's integrations and partnerships with OpsRamp and IBM Qradar will remain in place, the company said.
The deal comes at a key time. Thousands of midmarket MSPs and aspiring MSSPs (managed security services providers) are struggling to select security automation platforms and/or SOC as a Service (SOCaaS) options. Indeed, the market is crowded with at least 20 SOCaaS offerings as of October 2019.
It sounds like NetEnrich is now positioned to offer may of those SOC-type services to partners.
NetEnrich Business Evolution: Beyond NOC Outsourcing
NetEnrich at one time competed against Continuum (now owned by ConnectWise) at the lower end of the outsourced NOC (network operations center) market for MSPs in the SMB sector. The company has spent recent years years expanding beyond outsourced NOC services to offer midmarket cloud, IoT and business automation services.
The strategic shift has paid major dividends to NetEnrich and its partners. The company now has more than 6,000 end-clients and 100+ channel partners in North America and rest of the world, NetEnrich says.
Meanwhile, ThreatLandscape provides an AI-driven cybersecurity SaaS product that extracts threat signals from customers’ physical and cloud infrastructure, analyzes the data, and delivers prioritized, actionable insights to IT and cybersecurity teams, the companies assert.
NetEnrich-ThreatLandscape Merger: Executive Perspectives
In a prepared statement about the deal, Chekuri said:
“Security services for modern workloads is usually an afterthought, and is in great need of innovation, especially against the backdrop of increasing cybersecurity attacks. With this merger, NetEnrich has taken a significant step in offering out-of-the-box services that delivers outcomes, and a platform for securing modern workloads in enterprises."
“Cybersecurity has traditionally been siloed from IT in midmarket businesses and smaller enterprises,. Ironically these businesses are at the top of the risk pile due to increasing digital attack surfaces, limited security postures, and reactive cybersecurity controls. Along with NetEnrich, we can ensure that enterprises have the modern workload protection they need without sacrificing application and infrastructure uptime or performance.”
Check back. MSSP Alert may update this article with more deal background in the days ahead.