Channel Brief: OpenText, Secure Code Warrior Offer Cyber Training

U.S. private equity firm Insight Partners has sold a $2 billion stake in cloud data company Veeam Software in a secondary sale valuing the firm at $15 billion, it said on Wednesday. As Reuters reported, it has tripled its valuation since January 2020, when it was acquired by Insight Partners for $5 billion.

Veeam, a former Swiss firm now headquartered in Kirkland, Washington, provides backup for critical information on remote servers. Among its customers are Amazon Web Services (AWS) and Microsoft Azure. The transaction was led by TPG with participation from Temasek, Neuberger Berman Capital Solutions and other investors, Reuters said.

As of September, Veeam generated $1.7 billion in annualized recurring revenue, up 18% year-over-year, the company said. Two-thirds of its revenue comes from subscriptions. CEO Anand Eswaran said the secondary transaction allows the company to diversify its investor base and provides liquidity and capital for future M&A.

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Grab your coffee. Here's what you need to know today.

Today’s Tech, Channel and MSP News

1. OpenText, Secure Code Warrior team up for cybersecurity training: OpenText today announced a strategic partnership with Secure Code Warrior to integrate its dynamic learning platform into the OpenText Fortify application security product suite. This partnership will help developers improve their secure coding skills through real-time training to reduce risks and quickly identify and resolve vulnerabilities.

2. LogicGate GRC ROI tool: LogicGate this week introduced a Governance, Risk, and Compliance (GRC) Program Value Realization Tool, available to customers through the Risk Cloud platform. This new tool provides visibility into the financial value of GRC by automatically tracking key program initiatives in real-time. These include resource efficiencies, tracking revenue enablement, and proactive risk reduction, allowing leaders to easily correlate risks with value and more effectively illustrate GRC's impact on the organization's bottom line.

3. Tuskira emerges from stealth with $28.5M funding: Tuskira, a threat defense platform leveraging an AI-powered security mesh, has launched out of stealth mode with $28.5 million in funding, according to the firm. The round was led by Intel Capital and SYN Ventures, with participation from Sorenson Capital, Rain Capital, Wipro Ventures, and others. Tuskira unifies security tools with automated security control assessments and in-depth exploit analysis of vulnerabilities across code, cloud environments, applications, and infrastructure to strengthen defense postures in real time. The funding will accelerate product innovation, expand integrations, and enhance patented AI technologies as well as accelerate customer acquisition.

4. Kyndryl, Nokia data center networking partnership: IT infrastructure solutions provider Kyndryl and Nokia have expanded their partnership portfolio to offer advanced data center networking solutions and services to global enterprises, the companies said in a statement. By combining Kyndryl’s enterprise knowledge and experience in designing, building and managing hybrid cloud and data center environments with Nokia’s high-performance, reliable data center networking infrastructure solution with embedded security capabilities, the partners will deliver many benefits to enterprise customers looking to modernize and expand their data center networks.

5. New Sysdig executive appointments: Sysdig has appointed Sergej Epp, former CISO of Palo Alto Networks, as CISO. In the role, Epp will lead cybersecurity strategy, operations, and risk management initiatives. Sysdig also announced the promotion of Shanta Kohli to CMO to unify global marketing efforts to accelerate growth, especially as the company looks toward global expansion and a potential IPO. Shanta joined Sysdig in 2020 and most recently served as SVP of marketing. These appointments come on the heels of the announcement of Sysdig’s new CEO, William Welch, who joined the company last month. Congratulations!

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