Redstor and TitanHQ have combined to form a cyber security specialist and data protection player that is targeting $100m annual recurring revenue by 2028.
Bregal Milestone has unveiled the CyberSentriq brand, formed by the acquisition of TitanHQ and its merger with Redstor, to house a security and data protection platform that is specifically designed for managed service providers (MSPs).
The business has indicated that its annual recurring revenue ambition will be met through a combination of organic growth and mergers and acquisitions. TitanHq and Redstor have each already built a base of MSPs, supporting more than 3,000 that help protect over 150,000 small to medium-sized enterprises (SMEs).
“We’re setting a new standard for MSP-first cyber security. MSPs safeguarding the critical SMB economy are underserved and have been let down by vendors out of touch with their day-to-day needs. CyberSentriq changes that. By uniting two key companies known for technology and service excellence, we’re giving MSPs exactly what they need – comprehensive protection without compromising quality, partnership or performance,” said James Griffin, CEO of CyberSentriq.
Ronan Kavanagh, chief revenue officer at CyberSentriq, added that both of the uniting businesses understood the needs of MSPs and had been working to meet their needs for years: “We’re here to eradicate operational drag and provide MSPs with proactive cyber security, data protection and operational resilience, providing a value enablement platform allowing them to better serve their customers.”
Redstor was sold to Bregal Milestone in January 2022 and the TitanHQ merger was announced this week.
CyberSentriq has an impressive backer syndicate, including HSBC Innovation Banking and JP Morgan.
John Hales, managing director of Bregal Milestone, said there was a clear opportunity for the newly announced operation to make an impact in the market.
MSPs safeguarding the critical SMB economy are underserved and have been let down by vendors out of touch with their day-to-day needs. CyberSentriq changes that
James Griffin, CyberSentriq
“SMBs face increasingly sophisticated AI-driven cyber attacks, and MSPs urgently need integrated solutions to combat these challenges. By uniting the exceptional strengths and proven track records of Redstor and TitanHQ, CyberSentriq stands ready to lead the next wave of cyber security innovation, providing MSPs and their clients with a complete cyber offering for offensive and defensive security, threat mitigation and recovery,” he said.
Elsewhere in the MSP world, networking player Netgear has described its acquisition of security specialist Exium as a positive for its partner community.
The form announced a definitive agreement to pick up Exium to support a strategy that is focused on underlining the capabilities Netgear has developed as a business connectivity provider.
The plan is to add Exium’s products and knowledge and add an integrated secure access service edge (SASE) platform to Netgear’s network offering. Once integrated, the solution will be pitched as an integrated network and security solution that is an ideal proposition for MSPs to take out to SME customers.
“AI has changed the threat landscape for small and medium enterprises, as well as larger businesses, but the solutions for SMEs are often too difficult to implement or need to be cobbled onto the network and managed separately,” said Pramod Badjate, president and general manager of Netgear for Business.
“By offering the Exium SASE solution with the goal of integrating it into our Insight cloud management platform, we’ll be able to bring our customers a seamless, single-pane-of-glass solution that is easily deployed and managed by small IT teams or MSPs,” he added.
The other advantage for the channel is that the Exium SASE offering was designed with the needs of MSPs in mind. The firm’s CEO, Farooq Khan, will remain with the business, championing the solution and becoming part of the Netgear for Business leadership team.
“Exium was built from the ground up as a cyber security solution to help protect small and medium enterprises that lack a comprehensive solution for combating cyber security threats,” said Khan. “We share a similar vision with Netgear and are excited to be joining the team to build a fully integrated network and security solution specially tailored to serve the needs of these customers.”
If the deal is given the green light, it is expected to complete by the end of the second quarter of 2025.
