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Many of you may have read over the weekend that an IT infrastructure management company called Kaseya was successfully breached by a ransomware hack. This event potentially impacted thousands of companies because their IT managers u2013 MSPs like us u2013 used that Kaseya tool to monitor their clientsu2019 networks.<br><br>
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Cynexlink Clients are Safe from the Kaseya Hack https://www.cynexlink.com/
Who & What is Kaseya? All Managed Service Providers (MSPs) like Cynexlink use various software solutions to manage and monitor their clients’ networks for patching, operating system status, data backup, email spam protection and much more. https://www.cynexlink.com/2021/07/05/cynexlink-clients-are-safe-from-the-kaseya-hack/
Kaseya’s Place in the IT Universe Kaseya has been working feverishly to move up into the top-tier IT provider category alongside Datto and ConnectWise, which is why it attracted so much private equity interest a couple of years ago. Behind the scenes, there has been a ton of consolidation in our industry over the last few years, and it has centered on these RMM tools – either as acquirers or acquirees – driven by economies of scale. By adding firewall management,
backup and recovery, cybersecurity tools, and more to an RMM under one roof, the potential for growth is staggering. This is why Kaseya has raised over $500MM dollars over the last 2+ years — to grab a piece of that market. The path to providing more and more IT solutions beyond the RMM tool comes down to a choice between building it and buying it. Kaseya chose to raise money and buy.
Massive Business Challenges Remain It will be interesting to see how Kaseya simply survives this high-profile event. In the short term, there is the issue of the $70 million ransom the hackers are demanding to release the stolen data.
Next, every MSP client of Kaseya must be exploring a move to a competitor this morning, but a systemic transfer of that kind is no overnight project. If those MSPs don’t move, however, their end clients will wonder how their IT provider can stay put — or how they can continue to work with, and have confidence in, an MSP that won’t leave Kaseya. https://www.cynexlink.com/
Maybe all of this can be fixed with a little P.R. and a lot more of what matters — actual cybersecurity investment and restructuring. Only time will tell. For those end clients who don’t want to wait and need help to get away from Kaseya, contact us not only for a special offer for Kaseya clients only but a simple 3-step, 3-week plan to provide a port in a storm for your network and data.
Do you have any questions? Send it to us! We hope you learned something new. https://www.cynexlink.com/
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