eFolder and Axcient Announce Merger
A week after naming former ConnectWise executive Matt Nachtrab as CEO, data protection solutions vendor eFolder today announced it has completed a merger with disaster recovery as a service (DRaaS) firm Axcient.
For the time being, both companies will continue to operate under their existing brands and maintain their facilities in Denver, Colo.; Mountain View, Calif; Austin, Texas; and Smolensk, Russia.
Nachtrab, the founder of remote monitoring and management software maker LabTech – now ConnectWise Automate – will be CEO of both companies. eFolder founder Kevin Hoffman will be chief technology officer, and Axcient founder Justin Moore will hold the title of chief strategy officer.
“I’m extremely excited to be leading this next chapter for Axcient and eFolder, and continuing to lean upon our core values to provide the best offerings for both MSPs and their clients,” Nachtrab said in a statement. “This merger enables us to deliver a far more complete suite of solutions to businesses as they face today’s biggest IT challenges protecting against the ever-increasing number of threats to data and infrastructure.”
As CTO, it will be Hoffman’s job to bring together the two companies’ respective technologies.
“MSPs today are often forced to partner with multiple vendors to serve their clients of varying sizes,” Hoffman said in a statement. “Our goal is to provide a single integrated cloud-managed solution that cost-effectively scales down to provide resiliency for single-server SMBs, while effortlessly scaling up, meeting the needs of mid-market companies with (hundreds) or (thousands) of virtual machines.”
Axcient’s Moore said the merger marks an exciting development in the business continuity industry.
“Axcient joining forces with eFolder creates the most complete platform for protecting data and ensuring the availability of IT systems,” his statement said. “MSPs and mid-market customers now have a single vendor they can trust to ensure employees always have access to the applications and information they need when they need it in today’s high-velocity business climate.”
The companies offered the following strategic rationale for the merger:
- A Leading SaaS Company Focused on MSP, SMB and Mid-Market IT Challenges – Assets from both companies fill gaps in their respective product lines, resulting in better experiences and outcomes for our customers. In addition, the scale and stability of the combined company enables accelerated growth of the businesses.
- A Shared Focus on Innovation Enhanced by Scale – The merger brings together the combined resources of each company to address the challenges customers face in the wake of increased cyber threats, the proliferation of data across disparate platforms and applications, and the adoption of hybrid-cloud architectures compounded by the increased reliance on digital assets and decreased tolerance for IT downtime and outages.
- A Talented Team Positioned to Capture Exciting Growth Opportunities – Through a commitment to retaining the best talent from both companies, the new combined company will have more resources to pursue growth strategies and to provide customers with the best experience, all lead by a seasoned management team with a track record of success in the MSP, SMB and Mid-market.
- A Market Leading Technology Platform – The combined platform represents more than 40 patents pending or granted and uniquely provides full compute and network continuity in the cloud, provable site recovery time objectives of 1 hour, virtual development and test lab capability, and single-click, orchestrated disaster recovery testing and failover. MSPs and their clients can eliminate redundant infrastructures to achieve unprecedented levels of deduplication, compression, and optimization of data.
- A Dominant Channel Ecosystem That Includes North America’s Largest MSPs – The combined company will have close to 4,000 MSPs including more than 90 percent of the 100 largest MSPs in North America. Bringing together best practices for channel acquisition, channel enablement and channel support will enable the company to help MSPs increase revenue, improve margin and achieve higher levels of customer retention.
The combined company is positioned to be the market leader, with more than 50,000 customers and 400,000 endpoints under management.
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