WatchGuard Technologies has new ownership, but the network security company's focus on MSP partner engagements remains unchanged. The details: Private equity firm Vector Capital has completed the WatchGuard Technologies acquisition, which was initially announced in April 2022. IPW, a European fund that invests in software companies, retains a minority interest in the business. Financial and valuation terms of the deal were not disclosed.
This is technology M&A deal number 420 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
Related ChannelE2E Interview: WatchGuard Senior VP Michelle Welch further describes the company’s MSP partner strategy.
WatchGuard Security Services and Solutions for MSPs
Watchguard, founded in 1996, is based in Seattle, Washington. The company has 908 employees listed on LinkedIn. More than 17,000 security resellers and service providers leverage WatchGuard's technology to protect 250,000 customers, the company indicates.
WatchGuard continues to develop network security and intelligence, advanced endpoint protection, multi-factor authentication (MFA), and secure WiFi solutions. Growing cloud-driven focus areas also include secure access service edge (SASE), extended detection and response (XDR), managed detection and response (MDR), and "further innovation in security automation and simplification for MSPs," the security company stated.
Vector Capital, founded in 1997, is based in San Francisco, California. The firm oversees approximately $4 billion of capital across its private equity and credit strategies.
In a prepared statement about the deal, Prakash Panjwani, CEO of WatchGuard Technologies, said:
“Vector Capital has been an excellent partner over the last decade, and is intimately familiar with the company, employees, partners, and our vision to be the security provider of choice to the MSP community. We have already had great successes together, and with this renewed investment, we are doubling down on empowering the MSP community with increased growth and platform innovation.”
Added Sandy Gill, managing director of Vector Capital:
“We believe that WatchGuard is uniquely positioned to take advantage of two major market forces – the rise of the MSP as the dominant and fastest growing source of cybersecurity, and the maturation of platform-based security offerings that enable clients to embrace SASE and XDR functionality. The company’s success and value are testaments to the tremendous demand for MSP-delivered advanced security services. WatchGuard’s technology, team, and partner ecosystem have set a new standard for security delivery, and we are committed to ensuring that WatchGuard has the resources to continue leading the cybersecurity landscape for years to come.”
