It’s the ultimate sign of confidence in the managed services market. Amid the continuing economic turmoil and credit crunch, Goldman Sachs and several other firms have invested $12 million in Nimsoft – one of the software sector’s fastest-growing companies and a key player in the managed services industry.
Goldman Sachs has been keeping a close eye on the managed services market in recent months. Here’s the scoop.
According to a Nimsoft press release, the company will use the new funds to:
“continue its growth and help achieve its vision of becoming the world’s leading enterprise systems management software company.”
Roughly two-thirds of Nimsoft’s customers are enterprise IT shows striving to more effectively manage their internal networks. The other one-third involves managed service providers that remotely administer customer networks.
Goldman Sachs has been keeping a close eye on the managed services market. The investment firm earlier this year pumped substantial money in DataPipe, an MSP in New Jersey.
No portion of the technology industry is fully immune to the current economic crisis. But Goldman Sachs’ vote-of-confidence in the MSP sector should provide some added confidence to the sector.
Posted In: Finance | Mergers and Acquisitions
Tags: Goldman Sachs | Managed Service Provider | Managed Services Investments | MSPs | NimSoft
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gotta love it.
Joe
Yes, we were overwhelmed with interest from potential investors.
Goldman Sachs and many other tier-1 investors cited the strength of our MSP business as a key reason.
More and more MSPs are moving to Nimsoft as their primary monitoring platform as they grow and their needs become more sophisticated.
By the way, blatant plug but we are recruiting MSP specialist sales executives at the moment.
Gary
Gary: good to hear solid news as the Dow falls below 9000. I remain upbeat about MSPs but worry SMBs will cut IT spending as we head for 2009. I will keep watching your blog for quarterly financial clues.
This leads me to the question of are MSPs not being as affected by the credit crunch as their SMB customers are?? Just wondering. I have recently had a couple of my vendors who are VARs or MSPs actually become clients of mine so I didn’t know if the crunch is affecting you guys or not……after all, they may just like the work I’m doing for their clients :-)…..
Stu
Stu: Since Nimsoft serves multiple markets (enterprise IT, MSP, etc) and disrupts traditional systems mgmt platforms they seem to be better positioned than many traditional software companies in the current market