As we wrap up Q3 and head into Q4 2021 the SMB space has shown some major changes as well as some uptick. Harry shares with us his Q3 analyst report with some insight to what happened in Q3.
Video Transcription
Harry Brelsford 0:15
Hello, I'm Harry Brelsford from SMB Nation today is the end of the third quarter of 2021. So it's my q3 analyst report, what are we seeing out in the SMB managed services provider MSP space in q3, so a couple of notes I was aware of, and actually assisted in some advisory roles for mergers and acquisitions for msps. And just the other day up in Canada, a couple of msps announced they were North at $30 million in funding for MSP Corp, which will acquire msps. But it's not your traditional private equity play. We'll be posting that interview soon. But it's more like a family where they're going to grow, acquire msps build a family and not do a flip is private equity firms typically have to do but we did see an uptick in m&a in q3 2021. And you can attribute part of it to the low cost of funds free money. The other thing is, is we saw a noticeable uptick in cyber security insurance issues. So some cybersecurity insurance companies are walking away from ensuring msps because msps are an attack vector, one to many for ransomware and other other tactics like phishing. And so some cyber security insurance companies are starting to walk away what that's going to do this, it's going to force the little guys to maybe merge and become bigger, and then they can be insured. And then finally, the discussion on platforms platforms, came to Aurora in q3. Everybody's trying to be a platform now, instead of just a point solution. Look for that to continue. That's the buzzword certainly, that stood out to me in q3. So onward to q4. It's got a quick here let me tell you, coming to you from Crested Butte, Colorado at 10,000 feet. This is Harry Brelsford at SMB nation. Thanks for thanks for being their friend.