Channel Brief: Syncro CEO Departs, ConnectWise, More

Grab a cup of your favorite morning beverage and check out the return of our regular market briefing for managed services providers (MSPs), IT service providers (ITSPs), technology service providers (TSPs), cloud service providers (CSPs) cybersecurity consultants, systems integrators, VARs, independent software vendors (ISVs), and distributors.

Scroll down for a quick view of upcoming in-person channel and MSP events at the bottom of this post (while we spiff up our industry calendar behind the scenes. It will return!)

And please send your news tips, information, and industry chatter to editorial director [email protected].

Sip up.

A. Today’s Tech, Channel and MSP News

1. Syncro chief departs - Syncro CEO Emily Glass said in a LinkedIn post that she is leaving the company after three years. She led the upstart PSA/RMM platform company for MSPs through the pandemic and into the recovery. She has frequently posted on LinkedIn about the leadership challenges, lessons and rewards and has often discussed the benefits of remaining a remote-only company. She recently spoke with ChannelE2E about Syncro’s cybersecurity plans for 2024. She said in her LinkedIn post announcing her departure, “I’m grateful for some time to reflect, refresh and refocus before taking on my next adventure.”

2. More on ConnectWise vulnerability - The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has ordered federal agencies to fix the ConnectWise ScreenConnect vulnerability within a week. Meanwhile, Sophos reports that despite the law enforcement operation against LockBit, “it seems as though some affiliates are still up and running.” Sophos said it has observed several LockBit attacks exploiting the recent ConnectWise ScreenConnect vulnerabilities. 

3. N-able price increase coming - N-able told financial analysts during its quarterly earnings call this week that it plans to raise prices to its MSP base in April, but not as much as it did in 2023. Executives said the price increase planning is still a work in process. Meanwhile, the company reported that it has a base of 25,000 MSPs and those MSPs are servicing well over 500,000 small and mid-sized enterprises. 

4. UK service provider M&A - UK-based technology solutions and services firm SCC will acquire Resonate, a global UK-based provider of cloud voice and collaboration services based on Microsoft Teams. This is technology deal number 48 that ChannelE2E and MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.

5. MGM’s SEC filing provides “cybersecurity issue” details - MGM Resorts International disclosed in its 10-K report filed today that it has become subject to consumer class actions and federal regulatory inquiries in relation to the Sepember 2023 “Cybersecurty Issue.” However, the company said that its incident response, dusruptions to business operations and expenses incurred for tech consulting services, legal fees and other third-party advisors were not material to the company’s 2023 results. “Although we have cybersecurity insurance that we expect will cover these expenses, the full scope of the costs and related impacts of this issue have not been determined. The Cybersecurity Issue is not expected to have a material effect on our financial condition and results of operations.”

B. In-Person MSP and Channel Partner Events