N-able has cut or restructured about five percent of its workforce despite reporting strong financial results in its third quarter.
N-able president and CEO John Pagliuca said that the moves were part of the annual planning process where all roles and responsibilities were evaluated across the company and a focused action was taken to reduce and in some cases, restructure certain positions.
“Our business remains healthy and therefore this may have felt a bit unexpected.”
IT security solutions provider N-able claims that MSPs were “quickly overtaking their customers as a primary target for cybercriminals”.
Almost 90 percent of MSPs surveyed in its State of the Market: The New Threat Landscape report had suffered a cyberattack in the last 18 months.
The report claims that the number of attacks MSPs are preventing has almost doubled over that period – from six to 11.
N-able chief security officer Dave MacKinnon said:”MSPs have worked tirelessly throughout the pandemic to ensure that the businesses they support can stay online and connected as circumstances changed. But the cybercriminals they’re protecting against are working equally as hard to make use of these shifts against their targets.”
SolarWinds has bought out IT services management outfit LogicNow to beef up its managed service provider offerings.
It merges SolarWinds N-Able and LogicNow, which will create a new business SolarWinds MSP. Already it claims that it will be the only provider that can offer both cloud-based and on premise solutions. It says it has five million endpoints and a million mailboxes.
The combined firms hire 750 staff and have more than 18,000 MSPs as customers.
Kevin Thompson, president and chief executive officer of SolarWinds said that his outfit is committed to the growing MSP market and has “realised great success” through the acquisition of N-able. Buying LogicNow was apparently logical.
“SolarWinds MSP, combining the capabilities of LogicNow and SolarWinds N-able, will offer MSPs a complete set of IT service management solutions via the cloud and on premises delivery models. SolarWinds MSP gives them everything they need to acquire and retain profitable clients, deliver outstanding levels of service and maximise their internal efficiency through standardisation of their toolsets and the use of automation,” he said.
LogicNow chief executive officer Walter Scott has the new job of being an executive VP for SolarWinds MSP. He said that the firm can provide “ever-greater support to customers as they differentiate their services and look to achieve faster, more profitable business growth.”
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