Volterra, a leading cloud service provider, recently acquired 60M Bishop, a renowned enterprise identity platform. This acquisition was announced on April 13, 2021 and is estimated to be worth $440 million. The announcement has generated a lot of buzz in the tech world and industry experts have been speculating the benefits of this merger for the companies involved. In this article, GeekWire takes an in-depth look at the acquisition and its implications.
Overview of Volterra:
Volterra is a leading cloud platform that provides secure, scalable and reliable services to businesses of all sizes. It was founded in 2016 by a group of Silicon Valley entrepreneurs and investors with the mission to enable companies to build, deploy and manage their cloud applications. Volterra’s services are used by some of the world’s largest companies, including Microsoft, Google, and Amazon. The company has offices in San Francisco, Seattle, and London, and has raised over $130 million in venture capital.
Overview of 60M Bishop:
60M Bishop is an enterprise identity platform that provides secure and comprehensive user authentication and access control solutions to organizations. The company was founded in 2017 by a group of seasoned security experts and has since become one of the leading providers of identity security solutions. 60M Bishop’s solutions are used by some of the world’s largest enterprises, including Microsoft, Apple, and Amazon.
Details of the Acquisition:
On April 13, 2021, Volterra announced that it had acquired 60M Bishop for a total of $440 million. The acquisition will see 60M Bishop become a subsidiary of Volterra, and its team and products will be integrated into the Volterra platform. The acquisition is expected to help Volterra expand its capabilities and offerings in the enterprise identity space.
Benefits of the Acquisition:
The acquisition of 60M Bishop is expected to bring several benefits to both companies. For Volterra, the acquisition will give them access to 60M Bishop’s comprehensive user authentication and access control solutions, allowing them to expand their offerings and capabilities in the enterprise identity space. For 60M Bishop, the acquisition will give their products a much larger platform to grow and reach more customers.
Analysis of the Acquisition:
The acquisition of 60M Bishop by Volterra is a strategic move that will enable both companies to expand their offerings and capabilities in the enterprise identity space. For Volterra, the acquisition will allow them to access 60M Bishop’s user authentication and access control solutions and provide these solutions to their customers. For 60M Bishop, the acquisition will give them access to Volterra’s vast customer base and provide them with a platform to grow and reach more customers.
The acquisition of 60M Bishop by Volterra is a strategic move that will enable both companies to expand their offerings and capabilities in the enterprise identity space. The acquisition will benefit both companies by providing them with access to each other’s products and customer base. Industry experts believe that the acquisition will be beneficial for both companies and will help them strengthen their position in the market.