Kaseya’s security, compliance management, and BDR systems—which include products acquired since 2018 along with vendors Unitrends, RapidFire Tools, Spanning, and ID Agent—are currently the company’s fastest sellers. To keep that streak alive, Voccola plans to buy a few more vendors this year.
“You’ll see a couple of acquisitions being announced this year in the area of security,” he says.
Without providing specifics, Voccola suggests those purchases will help Kaseya enter new segments of the security market rather than enhance the company’s existing capabilities.
“You’re not going to see us buying another of what we currently have,” he says. “We’ll be expanding the reach of the security components of IT Complete.”
Kaseya, of course, isn’t the only managed services software maker thinking along those lines. With sales of security hardware, software, and services on course to rise at a 9.2% CAGR through 2023 to $151.2 billion, according to IDC, and managed security spending set to climb at an even faster 13.9% CAGR, other leading vendors are pursuing similar strategies.
ConnectWise, for example, bought one-time rival Continuum last November in part to add the latter’s anti-virus, firewall, managed SIEM, and other security solutions to its portfolio. SolarWinds, for its part, bought password management vendor Passportal and introduced a new endpoint detection and response system last year, among other steps.
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