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Summit Partners Invests in Zenith Infotech Spin-Off -- Zenith RMM, a Leading Provider of Managed Services Software
BOSTON, MA and WARRENDALE, PA, Sep 28, 2011 (MARKETWIRE via COMTEX) --
Zenith Infotech, a publicly-traded, international company
specializing in remote monitoring and management, innovative business
continuity, and cloud computing solutions for IT service providers,
today announced that its Managed Services business unit has been spun
off and is now operating as a new and separate company, Zenith RMM,
LLC. Summit Partners made a sizable growth equity investment, and
Summit's John Carroll and Jason Glass will join the Zenith RMM Board
of Directors. The newly formed company plans to focus its efforts and
invest to accelerate product development, improve its market-leading
service, and expand its thought leadership.
Active in managed services since 2005, Zenith RMM has revolutionized
remote monitoring and management (RMM) by tightly integrating a
world-class Network Operations Center (NOC) with a comprehensive,
SaaS-based management portal. This powerful combination shatters the
break-fix barrier and enables Managed Services Providers (MSPs) to
achieve a level of automation, efficiency and profit that until now
was not possible with a software-only solution. The key is Zenith
RMM's ability to provide full problem resolution and cost-effective
24/7 support. As a result, its MSP partners achieve gross margins
that are significantly higher than MSPs that use only software tools.
The exceptional value of the Zenith RMM platform has established
Zenith RMM as the leading provider of intelligent,
resolution-oriented management software for MSPs. Today, nearly 3,000
MSP partners use the Zenith RMM platform to manage almost 400,000
endpoints.
"Today's announcement represents a focused and strategic approach to
better address the overall needs of managed services providers," said
Akash Saraf, Managing Director and CEO of Zenith Infotech. "We owe a
debt of gratitude to our loyal partners that have helped us create a
leading managed services offering. I look forward to working closely
with the Zenith RMM leadership team to help create an exciting vision
for the next generation of software services." Zenith Infotech will
continue to be a major shareholder of Zenith RMM, and Mr. Saraf will
be a member of the Board of Directors of Zenith RMM.
"This announcement is tremendous for Zenith RMM's partners, as it
creates a strong U.S.-based company that is fully dedicated to
managed services," said Larry Shulman, owner of LMS Technical
Services, a Zenith RMM partner. "Zenith's management portal and
world-class NOC are an essential part of our IT services offering. We
are confident that the company's dedicated focus on RMM will continue
to strengthen the company's platform and our partnership, allowing us
to keep delivering an exceptional level of service to our customers."
"Zenith's managed services help us keep our customers' IT
environments performing at their peak," said Arlin Sorensen, CEO of
Heartland Technology Solutions, another Zenith RMM partner. "We are
thrilled with the news and the company's increased investment in
product development. Zenith RMM shared a high-level product roadmap
that highlights their commitment to rapidly deliver enhancements to
the management platform in several important areas such as increased
automation, expanded endpoint coverage -- including mobile devices --
custom reporting and more complete virtualization support."
John Carroll, a Managing Director of Summit Partners, said, "We are
very pleased that Michael George, a proven executive with 25 years of
experience in leading high-growth software companies, has joined
Zenith RMM as CEO. Michael is recruiting a world-class management
team and, as a very customer- and market-centric executive, he will
quickly engage Zenith RMM's partner community to discuss the
company's strategies for accelerating growth -- including an elevated
channel enablement program and expansion of the company's leading
platform for managed service providers."
Jason Glass, a Principal of Summit Partners, added, "Zenith Infotech
created a compelling offering that has been broadly adopted in the
managed services sector. We are pleased to invest in Zenith RMM and
look forward to working closely with Michael and the new management
team to support the company's continued growth and expansion."
About Zenith Infotech
Zenith Infotech is an international company
that specializes in delivering innovative business continuity and
cloud computing solutions for IT service providers. The company's
U.S. headquarters is located in Warrendale, Pennsylvania. Learn more
at www.zenithinfotech.com.
About Zenith RMM
Zenith RMM provides a leading SaaS-based managed
services platform that Managed Services Providers (MSPs) use to
efficiently monitor, troubleshoot and maintain desktops, servers and
other endpoints for small-and-medium-sized businesses (SMBs). The
comprehensive management portal supports hybrid computing
environments and tightly integrates a world-class Network Operations
Center (NOC) with a highly automated Remote Monitoring and Management
(RMM) platform. The company entered the managed services market in
2005 and currently monitors almost 400,000 endpoints. For more
information, please visit www.zenithrmm.com.
About Summit Partners
Summit Partners (www.summitpartners.com) is a
growth equity investor that provides private equity and venture
capital to rapidly growing companies. Founded in 1984, Summit has
raised more than $11 billion in capital and has provided growth
equity, recapitalization and management buyout financing to more than
330 growing companies across a range of industries and geographies.
Summit Partners seeks outstanding management teams that have built
their companies to market leadership. Summit's notable investments in
the software sector include AvePoint, Hyperion Software, GoldenGate
Software, McAfee, Postini, Sybari Software, Telerik and Unica.
In the United States of America, Summit Partners operates as an
SEC-registered investment advisor. In the United Kingdom, this
document is issued by Summit Partners Limited, a firm authorized and
regulated by the Financial Services Authority. Summit Partners
Limited is a limited company registered in England and Wales with
company number 4141197, and its registered office is at 20-22 Bedford
Row, London, WC1R 4JS, UK. This document is intended solely to
provide information regarding Summit Partners' potential financing
capabilities for prospective portfolio companies.
For more information, contact:
Zenith Infotech:
Carla Leininger
Public Relations Manager
724-935-4384
Email Contact
Zenith RMM:
Lynette Bohanan
CommCentric Solutions Inc.
813-727-0196
Email Contact
Suzanne Mattaboni
CommCentric Solutions Inc.
610-261-4560
Email Contact
Summit Partners:
Joan Miller
617-824-1047
Email Contact
SOURCE: Zenith RMM
http://www2.marketwire.com/mw/emailprcntct?id=DB925CC24ACBFF82
http://www2.marketwire.com/mw/emailprcntct?id=251CFA56ED58130B
http://www2.marketwire.com/mw/emailprcntct?id=85251AD906195BB5
http://www2.marketwire.com/mw/emailprcntct?id=6B405A399860DA54
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