The managed service provider (MSP) technology company Datto has announced that it has acquired the Israel-based cyber threat detection company BitDam for an undisclosed sum.
BitDam's cyber-defense platform helps organizations secure collaboration tools including Microsoft 365 and Google Workspace from malware, phishing and ransomware.
The company's threat detection technology was specifically built to stop zero-day threats including those that do not match any known malware signatures in order to proactively defend against malware and phishing threats that could appear in a user's inbox, chat messages or cloud storage.
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CEO of Datto Tim Weller explained in a press release how the acquisition will allow the company to deliver new revenue opportunities to its MSP partners, saying:
“Cyber resilience has been at Datto’s core since the launch of our flagship Continuity service and the Datto Cloud over a decade ago. This acquisition marks an important step on our security journey, coming on the heels of our recent launch of Ransomware Detection in Datto RMM. Both deliver new revenue and margin opportunities to our 17,000 MSP partners just as cyber attacks on SMBs are proliferating. We welcome the elite BitDam security team to Datto as we continue to execute on an ambitious security roadmap for our partners.”
BitDam acquisition
According to the latest edition of Datto's annual Global State of the Channel Ransomware report, MSPs report that phishing is the most common cause of successful ransomware attacks.
Now though through its acquisition of BitDam, the company will be able to offer MSPs a proactive way to defend against malware, phishing and ransomware. Once the deal is complete, BitDam's entire team will be joining Datto to help the company better defend against the latest cyber threats.
Co-founder and CEO of BitDam, Liron Barak explained how the acquisition will allow it to scale its ability to protect those working from home from unknown cyber threats, saying:
“We are thrilled to be joining the Datto team to help shape the security roadmap for MSPs as threats evolve globally. Thanks to the talented BitDam team, whose excellence in cybersecurity technology innovation has led our journey here, our patented technologies can help protect cloud-based remote workforces from unknown cyber threats at an even greater scale through Datto.”
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