Avast sells remote managing arm to Barracuda
Avast
n/a
n/a
Cybersecurity provider Avast said it had sold its non-core remote monitoring and management (RMM) product Managed Workplace to Barracuda Networks for an undisclosed sum.
FTSE 250
19,289.13
11:10 19/04/24
FTSE 350
4,311.29
11:10 19/04/24
FTSE All-Share
4,267.52
11:10 19/04/24
Software & Computer Services
2,335.95
11:09 19/04/24
Managed Workplace sells RMM services to Managed Service Providers. “Barracuda, which has a large existing MSP base but does not currently offer an RMM solution, provides a better long-term solution for this business,” Avast said.
In addition, Barracuda has signed a reseller agreement, and will resell Avast's business security solutions to MSPs.
In the year ended 31 December 2018 the asset generated “low teen revenue with a materially lower margin profile than the Group. The proceeds of the sale will be used for general corporate purposes,” the company said.