Datto Acquires Israel's Cyber Threat Detection Company BitDam For Undisclosed Sum

Global provider of cloud-based software and technology solutions for managed service providers (MSPs) Datto Holding Corp (NYSE: MSP) announced the acquisition of Israel-based cyber threat detection company BitDam Ltd.

• The financial terms of the transaction were not disclosed.
• BitDam’s cyber-defense platform protected collaboration tools like Microsoft Corp’s (NASDAQ: MSFT) M365 and Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Workspace, from ransomware, malware, and phishing. The leading threat detection technology was built to stop 0-day threats, proactively defending against malware and phishing threats within a user’s inbox, chat, or cloud drive.
• Microsoft email inboxes were remotely compromised using novel flaws, including multiple 0-day exploits.
• Datto’s cash balance stood at $100 million as of September 30, 2020.
• Price action: MSP shares are trading 3.04% higher at $25.40 on the last check Wednesday.