German cloud security firm Hornetsecurity has acquired backup solutions company Altaro, it was announced today.
The move is a culmination of a medley of acquisitions made by Hornetsecurity recently, following the January 2019 acquisition of Spamina, a Spanish cloud email security company, as well as EveryCloud, its British market partner, in early 2020.
Altaro CEO David Vella says his company's development of backup solutions for Hyper-V, VMware, physical servers, network endpoints and Microsoft Office 365 ‘perfectly complement' Hornetsecurity's email and compliance solutions. This natural ‘synergy' Vella says, will result in better offerings for their partners and customers.
“We have found exactly the right strategic buyer in Hornetsecurity and are delighted to become part of the group,” says Vella.
“The synergies between the two companies are obvious. Through our combined know-how and experience, and the innovative combination of our product suites, Hornetsecurity's European market leadership in cloud security has reached a new level.
Vella says Hornetsecurity has welcomed members of Altaro's leadership into its own executive team.
“All Altaro co-founders remain on board and will occupy leadership roles within the Hornetsecurity Group,” he said.
Hornetsecurity CEO Daniel Hofmann says the acquisition further enriches the company's suite of cloud security and compliance technologies.
“Our goal is to provide organisations with a complete security and compliance solution for their cloud technologies. By integrating Altaro's backup solutions into Hornetsecurity's product portfolio, we can provide a comprehensive package to protect customer data.
Looking ahead, he revealed: “We will expand the company's current international locations in the coming years to provide our partners with new products and solutions even faster.
Hornetsecurity COO Daniel Blank says the acquisition alleviates the pressure from the increasingly competitive cloud computing market, buffering it against potential tough competition throughout this year and beyond.
“MSPs and IT outsourcers are rapidly expanding their cloud architectures and services,” says Blank.
“With the acquisition of Altaro, we are not only expanding our security services for Microsoft 365, but also responding to our channel's growing need for Hyper-V and VMware backup solutions.
Listing some of Hornetsecurity's reasons for this investment, Blank goes on to say: “Altaro's 100% commitment to the channel, its partners' clear respect of their technical support, and their excellent product were key factors in our decision.
“The acquisition will also strengthen our international marketing and sales. Together, we will strengthen and expand our partner networks, which will further boost growth of the entire Hornetsecurity Group.