‘Our fastest-growing business is through managed service providers. Managed service providers offer an incredible access point to the SMB segment. So in a segment that’s been very hard to crack for a lot of vendors, Ydentic provides a lot of scale for us in a market that is incredibly valuable,’ says Scott Sacket, AvePoint’s senior vice president of global partner strategy.
Global Microsoft cloud and Microsoft 365 ISV AvePoint has entered into an agreement to acquire Ydentic, a specialist in centralized multitenant management for Microsoft MSPs.
The proposed acquisition, which was unveiled Jan. 15 and is expected to be completed before the end of January, brings AvePoint a strong multitenancy capability important to both its own managed services customers and to the growing number of other MSPs that work with the company, said Scott Sacket, senior vice president of global partner strategy for Jersey City, N.J.-based AvePoint.
[Related: AvePoint CEO Jiang: IPO Brings Scale, Accelerates Mission To Becoming ‘100 Percent Channel’]
Ydentic’s multitenant management platform includes technology for user life-cycle management, workflows and approvals, Microsoft license management, customizable service desk, a self-service portal, and auditing and reporting.
AvePoint declined to discuss the cost of the Ydentic acquisition.
Netherlands-based Ydentic has built a platform for multitenancy management for MSPs to provide them with increased profitability and efficiency, Sacket said.
“Ydentic has a really good footprint in Europe, and they align very closely with what we’re trying to do in our channel and our managed services motions,” he said. “They’re going to bring a lot of value to our MSPs in how they scale and ultimately bring value to their customers going forward.”
AvePoint is a SaaS company providing data security, governance and resilience technology, primarily to its own enterprise customer base, Sacket said.
“But our fastest-growing business is through managed service providers,” he said. “Managed service providers offer an incredible access point to the SMB segment. So in a segment that’s been very hard to crack for a lot of vendors, Ydentic provides a lot of scale for us in a market that is incredibly valuable.”
AvePoint has been building technology through its Elements MSP platform for the past nine years, Sacket said.
“This is an incredibly rapidly growing and]accelerated space for us,” he said. “This acquisition is another step in bringing value to the approximately 3,500 MSPs today using our Elements platform. The platform itself is built for MSPs, and so it has to be multitenancy in nature. Ydentic offers the ability to automate certain IT tasks which allow better control and better security for MSPs and their customers. So it’s a great combination, providing both scale and security for MSPs.”
AvePoint’s Elements platform also allows for multitenancy for its existing offerings, Sacket said.
“The real differentiation here is some of the feature set within their solution that we don’t necessarily offer today around user management, IT efficiency and some security-centric products,” he said. “So while there is some overlap in technology, as multitenancy is a must-have in the MSP space, Ydentic offers additional feature sets and products that help complement what we’re doing in Elements.”
Ydentic currently serves 75 to 100 MSPs, some of which overlap with AvePoint’s MSP base, Sacket said.
AvePoint came to know Ydentic via both companies’ memberships around the Netherlands area, Sacket said.
“There was a relationship built organically through that, and that led to further conversations moving forward,” he said. “It wasn’t a proactive M&A move. It was really born out of similar partners, similar values and a clear path forward on how we can add value to each other.”
