As a managed service provider (MSP), you rely heavily on IT Glue to manage your clients’ information and ensure smooth operations. However, have you ever stopped to wonder who owns this crucial tool? Surprisingly, the answer might not be as straightforward as you think. In this article, we delve into the fascinating history of IT Glue’s ownership, its current structure, and what this means for MSPs. Join us on this journey of discovery and unveil the mysteries behind one of the most essential tools in your MSP toolkit.
Who Owns IT Glue?
As an MSP, you may be well-versed in the importance of IT Glue as a tool for managing client data and improving productivity. But have you ever wondered who owns this invaluable resource? The ownership structure of IT Glue is a topic of growing interest in the MSP community, as it can have a significant impact on the product’s direction and future development. From its early days as a startup to its current position as a market leader, this article will explore the history of IT Glue’s ownership and its implications for your MSP. Learn more about the fascinating history of IT Glue and its ownership structure below.
The Early Days
The Early Days of IT Glue
Back in 2013, Chris Day and co-founders started IT Glue, a cloud-based documentation platform for Managed Service Providers (MSPs). The company aimed to make MSP services more efficient, organized, and collaborative. As an MSP, Chris Day realized that traditional documentation storage in local networks was a cumbersome process, inhibiting the growth of MSPs. IT Glue began as a simple idea, but it quickly developed into a game-changing tool for MSPs.
- IT Glue began as a subsidiary of Kaseya, Inc
- With a team of three co-founders, Chris Day, Mike Sanders, and Luis Giraldo, IT Glue was launched.
- IT Glue’s documentation platform aimed to help MSPs store passwords, notes, and other critical data efficiently.
Within a year, IT Glue was successful in raising venture capital and had already created a significant customer base. This platform swiftly became an essential tool for MSPs, and the company continued to grow until its acquisition by Kaseya.
Kaseya Acquisition
When Kaseya acquired IT Glue, it was a major turning point in the company’s history. Kaseya, a leading provider of IT management solutions for MSPs, recognized the value of IT Glue’s documentation platform and the potential it had for further growth. The acquisition was completed in December 2018 for $45 million.
| Acquisition Date | December 2018 |
|---|---|
| Acquiring Company | Kaseya |
| Acquisition Cost | $45 million |
Kaseya’s acquisition of IT Glue allowed the company to expand its offerings and continue to provide top-notch services to MSPs. Additionally, it provided IT Glue with the resources and support needed to enhance its platform and better serve its customers. The acquisition also allowed for a closer integration between Kaseya’s products and IT Glue’s platform, creating a more seamless experience for MSPs.
It’s worth noting that while IT Glue is now a part of Kaseya, it still operates as a separate entity. This means that IT Glue continues to operate with its own management team and has its own unique branding and identity. It’s not uncommon for companies to retain some degree of autonomy after being acquired, particularly if they have a strong brand and market presence.
In summary, the Kaseya acquisition was one of the biggest moments in IT Glue’s history. It gave the company the resources and support it needed to continue growing and expanding its offerings, while also providing Kaseya with a valuable tool in its arsenal of MSP solutions.
Continued Growth
During its early years, IT Glue continued to grow and expand rapidly. The company was gaining a reputation for being a valuable tool for MSPs, with its superior documentation capabilities and user-friendly platform. As the company continued to grow, it attracted the attention of larger businesses in the industry. In 2017, private equity firm, Riverside Company, acquired a majority stake in IT Glue.
The acquisition provided IT Glue with the resources needed to expand even further. The company used the investment to further develop its platform and expand its team. In 2018, IT Glue announced that it had opened a new headquarters in Vancouver, Canada, bringing its total employee count to over 180. Later that year, the company announced that it had reached the milestone of serving over 5,000 MSPs worldwide.
The growth of IT Glue didn’t stop there. In 2019, it announced that it had been acquired by Kaseya, another leader in the MSP industry. Kaseya, which provides IT management solutions to MSPs, recognized the value of IT Glue and its ability to streamline documentation and process management.
Since the acquisition, IT Glue has continued to grow and improve its platform. It has added integrations with leading MSP tools to provide a seamless experience for MSPs. It has expanded its offerings to include MyGlue, a platform that allows businesses to securely store and share passwords and other sensitive information.
The continued growth of IT Glue highlights the importance of efficient documentation in the MSP industry. As MSPs seek tools to streamline their processes, IT Glue has become an essential tool for managing documentation and information. Its growth also demonstrates the value of strategic partnerships and acquisitions in expanding product offerings and advancing industry technologies.
Current Ownership Structure
IT Glue, one of the most widely-used tools in the MSP industry, has had an interesting ownership history. As of now, the company is owned by Kaseya, a prominent provider of IT management software solutions. However, this was not always the case.
IT Glue was founded in 2013 by Chris Day, who had previously worked as a managed service provider (MSP) himself. For the first few years, the company was privately owned and operated, and quickly became popular within the MSP community. Its innovative documentation platform offered a streamlined way for MSPs to manage their client information, leading to rapid growth for the company.
In 2018, Kaseya acquired IT Glue for a reported $120 million. At the time, both companies emphasized the potential benefits of the acquisition, such as increased integration and improved product offerings. Jason Magee, the CEO of ConnectWise, commented on the acquisition, saying “It’s a good move for Kaseya. They’ve needed a document management solution for years, and IT Glue is the best one out there.”
Since the acquisition, IT Glue has continued to flourish under Kaseya ownership. The company has expanded its offerings and added new features, such as Network Glue, an automated network discovery tool, and MyGlue, a secure password repository designed for end users. IT Glue has also grown in terms of its customer base, with over 10,000 MSPs worldwide now using the platform.
The current ownership structure of IT Glue gives the company increased stability and resources to continue growing and improving its offerings.
What Does This Mean for MSPs?
What MSPs Should Know About IT Glue Ownership
Understanding who owns IT Glue can have important implications for MSPs who rely on this tool to manage their clients’ information. While some may assume that ownership doesn’t matter as long as the product works well, there are certain benefits and potential risks that come with strong or weak ownership. In this section, we’ll take a closer look at what MSPs should know about IT Glue’s ownership structure and what it means for their business operations.
Benefits of Strong Ownership
One of the main benefits of having strong ownership of IT Glue is the company’s ability to innovate and provide new features and tools for its users. With a stable ownership structure, the company can invest in research and development and continuously improve the platform to meet the evolving needs of MSPs.
Innovation: Strong ownership provides IT Glue with the resources and stability needed to invest in future growth and continued innovation, allowing the company to remain competitive within the industry. As a result of this commitment to innovation, IT Glue provides numerous benefits to MSPs, including streamlined documentation process, automated password management, and secure data storage.
Reliability: A key benefit of strong ownership is the assurance that IT Glue is here to stay, providing MSPs with peace of mind knowing that their data is secure and accessible. As a result, MSPs can depend on IT Glue as a critical tool to support their business, helping them quickly access the information they need to provide reliable services to their clients.
User Support: Strong ownership also allows IT Glue to provide users with high-quality support, helping MSPs to troubleshoot issues and optimize their use of the platform. This user support is provided through a variety of resources, including email, phone, and chat support, as well as a user community forum where MSPs can connect with each other and receive advice from other users.
The benefits of strong ownership are clear, providing IT Glue with the resources needed to innovate and provide reliable, high-quality services to MSPs. If you want to learn more about IT Glue itself, check out What Makes Glue? to get a better understanding of this important tool for MSPs.
Potential Risks
Potential Risks of IT Glue ownership include the fact that if the company were acquired by a larger corporation, changes could be made to the product that might not be beneficial to current users. Additionally, because IT Glue is such a critical tool for many MSPs, any problems with the service could greatly impact day-to-day operations. There is also some concern among MSPs about the security of storing so much sensitive information in one place. Although IT Glue has taken steps to ensure the security of its product, no system is completely infallible, and a breach could be devastating for both the MSP and its clients.
To mitigate these risks, it is important for MSPs to have a plan in place for handling potential issues with IT Glue. This might include a backup system for important information and a procedure for handling any necessary updates or changes to the product. Additionally, MSPs should regularly assess the security of their IT Glue account and be sure to use best practices for securing sensitive information.
While there are certainly potential risks associated with IT Glue ownership, the benefits of the product far outweigh them for many MSPs. With the right mindset and preparation, MSPs can confidently use IT Glue as a valuable tool to improve their efficiency and better serve their clients.
Future Plans for IT Glue
As we look towards the future of IT Glue, it’s important to understand how this widely used tool for MSPs will continue to evolve and grow. From upcoming features and tools to potential acquisitions or mergers, the future of IT Glue is sure to bring both excitement and uncertainty. Let’s take a closer look at what we can expect in the days to come.
Relevance in the MSP Industry
IT Glue has become an essential part of the MSP industry and has revolutionized the way MSPs conduct their businesses. The tool provides a centralized platform for organizing and managing important details for an MSP’s clients. MSPs can store information such as login credentials, client information, and even network diagrams. This type of functionality is crucial for MSPs, who must manage multiple clients and their various IT systems.
The importance of IT Glue in the MSP industry lies in its ability to reduce operating costs, increase efficiency, and improve customer satisfaction. By having a centralized repository of client documentation, MSPs can improve their workflow, leading to better productivity and ultimately, greater profitability.
IT Glue’s ability to integrate with other tools commonly used in the industry, such as remote monitoring and management software (RMM), professional service automation (PSA) software, and security information and event management (SIEM) software, has made it an indispensable part of the MSP stack.
The relevance of IT Glue in the MSP industry cannot be overstated. Its ability to improve workflow, increase efficiency, and integrate with other tools has made it a critical component of any MSP’s toolkit.
Upcoming Features and Tools
IT Glue is continuously working on adding new features and tools to its platform to provide MSPs with more robust solutions. One exciting upcoming feature is the Network Glue. Network Glue will allow MSPs to gain a comprehensive overview of their clients’ IT infrastructure, including the network devices, servers, and workstations. With this tool, MSPs can quickly identify any network issues and proactively take steps to resolve them before they become a significant problem. Another upcoming feature is Document Glue, which allows MSPs to automate their documentation process entirely. With this tool, MSPs can automatically generate and update technical documentation, saving them time and ensuring that all documentation is always up-to-date.
IT Glue is also making improvements to its core features, such as the password management tool. MSPs can look forward to more robust settings for password complexity requirements, the ability to import and export larger amounts of password data, and easier password rotation.
In addition to new features, IT Glue is also planning to expand its integrations with other MSP tools and platforms. MSPs can already integrate IT Glue with major PSA and RMM tools, but additional integrations may be on the horizon.
IT Glue’s focus on adding new features and improving existing ones ensures that MSPs have access to the latest tools and technology, making their job easier and more efficient. For MSPs looking for a comprehensive solution to their documentation and network management woes, IT Glue is a top choice.
Acquisition or Merger Possibilities?
Acquisition or Merger Possibilities?
As one of the leading players in the MSP software space, IT Glue is an attractive target for acquisition or merger by larger technology companies in the industry. Several potential suitors have been rumored over the years, including ConnectWise and SolarWinds.
In 2019, speculation mounted that Kaseya, IT Glue’s parent company, was nearing a sale to private equity firm Insight Partners. This deal did not directly involve IT Glue, but it could have implications for the future of the company if Kaseya were to make changes to its ownership structure as a result.
There has also been talk of IT Glue branching out into related markets through acquisitions of its own. For example, in 2018 the company acquired Cenersys, a cybersecurity provider, to expand its offerings beyond documentation and into security. This move could signal a willingness on the part of IT Glue to pursue strategic acquisitions to enhance its product suite.
Table of Potential Acquisition or Merger Partners
To better understand the landscape of possible suitors for IT Glue, we’ve compiled a table of some of the key players in the MSP software market, along with their market caps and recent acquisition activity.
| Company | Market Cap | Recent Acquisitions |
|---|---|---|
| ConnectWise | $1.5B | Continuum, ITBoost |
| SolarWinds | $6.3B | SAManage, Trusted Metrics |
| Datto | $4.2B | Backupify, Open Mesh |
| NinjaRMM | N/A (private company) | None |
| Continuum | N/A (owned by ConnectWise) | Carvir, BrightGauge |
It’s worth noting that the MSP software market is highly competitive, with many players vying for market share. An acquisition or merger could help one company gain an edge over its rivals by consolidating its offerings or acquiring new technology or expertise.
However, any acquisition or merger would have to be carefully considered to ensure that the benefits outweighed the costs, and that the cultures and values of the two companies were aligned. In the case of IT Glue, the company’s focus on documentation and information management would need to be a good fit with any potential partner’s offerings and strategy.
While the future ownership of IT Glue remains uncertain, the company’s continued success and growth make it a valuable asset in the MSP software market. Whether it remains an independent entity or becomes part of a larger organization, MSPs can rely on IT Glue to provide essential tools and support for their businesses.
Conclusion
In conclusion, understanding the ownership of your MSP’s most important tool – IT Glue – is crucial for making informed decisions about your company’s future. By examining the early days of the company, its acquisition by Kaseya, and continued growth, we can see how strong ownership has led to a powerful and versatile tool for MSPs.
The current ownership structure also plays a significant role in the future of IT Glue. With Kaseya as the parent company, there are resources and opportunities for continued innovation and expansion. However, this also raises potential risks, such as conflicts of interest or changes in direction.
Despite these uncertainties, IT Glue remains a vital component of many MSPs operations. Its benefits are numerous, including increased efficiency, organization, and transparency. MSPs will need to closely monitor developments in the industry and stay informed about the latest features and tools.
Ultimately, IT Glue’s success depends on its ability to remain relevant and competitive in a rapidly changing industry. Whether through upcoming features and tools, acquisitions, or mergers, the company’s future is sure to be exciting. But perhaps the cultural glue that holds IT Glue and MSPs together is the common goal of providing top-notch service and support to their clients.
Related: To learn more about types of glue and their uses, check out our article on food-safe glues.
Frequently Asked Questions
What is IT Glue?
IT Glue is a cloud-based software that helps IT professionals to organize and centralize their documentation, allowing for more efficient and effective information sharing across their organization.
How long has IT Glue been around?
IT Glue was founded in 2013.
Who owns IT Glue?
IT Glue is currently owned by Kaseya Limited.
What is Kaseya Limited?
Kaseya Limited is a leading provider of IT management and security software solutions for Managed Service Providers (MSPs) and small-to-medium-sized businesses.
When did Kaseya acquire IT Glue?
Kaseya acquired IT Glue in December 2018.
What are the benefits of using IT Glue for MSPs?
Using IT Glue allows MSPs to improve their efficiency and productivity by ensuring that important documentation is centralized and easily accessible. This can lead to better customer service, increased revenue, and more successful outcomes for their clients.
Are there any risks associated with using IT Glue?
There is always a risk associated with storing sensitive information in the cloud. It is important to ensure that proper security measures are in place to protect against potential breaches.
What are the upcoming features and tools for IT Glue?
IT Glue is continually updating their software to improve its functionality and usability. Some upcoming features include enhanced password management, advanced reporting capabilities, and additional integrations with popular tools and software.
Are there any acquisition or merger possibilities for IT Glue?
As a subsidiary of Kaseya Limited, IT Glue is in a strong position for growth and expansion within the MSP industry. However, it is always possible that the company may be subject to acquisition or merger in the future.
Is IT Glue relevant to all types of businesses?
While IT Glue was specifically designed for MSPs, its capabilities and benefits can be applied to any business that requires IT management and organization.