Zix Corporation (Zix) announced the acquisition of acquisition privately held CloudAlly, a cloud-based data backup and recovery company for 30 million USD. With this acquisition, CloudAlly expands Zix’s product suite into Microsoft Office 365 backup, filling growing demand from AppRiver’s MSP channel and Zix’s value-added reseller and direct channels. In addition to this, Zix will enter the cloud backup and recovery market.
To capitalize on the growing Cloud backup and recovery market
The CloudAlly acquisition will be taken into effect by December 31, 2020. Considering to financial aspect, Zix modified its existing senior secured term loan led by Truist Bank by adding additional borrowings of $35.0 million, bringing the total outstanding amount of the term loan to $212.2 million.
David Wagner, Zix’s Chief Executive Officer, said,
“With CloudAlly, we can now directly address the growing demand we’ve seen from partners, customers and prospects alike for an enterprise-grade cloud backup offering with a best-in-class solution. In fact, through a recent survey of our MSP partner base, we found that at least 45% confirmed they would purchase a backup solution from Zix if it became available. With CloudAlly, we can greatly enhance our Secure Cloud platform and also mitigate concerns around ransomware which have become a large industry focus.”
Israel based CloudAlly offers a robust suite of award-winning, ISO 27001 certified and GDPR/HIPAA compliant solutions for Microsoft Office 365, Google Workspace (formerly G Suite), SharePoint, OneDrive, Salesforce, Box and Dropbox.