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Cygna Labs Signs a Definitive Agreement to Acquire Diamond IP from BT
Friday, February 25, 2022
Deal enhances Cygna Labs' intellectual property by adding third-largest DDI vendor to product portfolio and transforms Diamond IP into a standalone software vendor
MIAMI, Feb. 17, 2022 /PRNewswire-PRWeb/ -- Cygna Labs, a highly specialized software manufacturer with a focus on providing enterprises worldwide with the latest innovations in cloud security and compliance technology, announced today that it has entered into a definitive agreement to acquire Diamond IP, from BT (formerly British Telecom). Diamond IP is one of the top three providers of DDI solutions and a critical provider of connectivity, cloud, and security services. The company will not only gain the advantage of becoming a standalone DDI vendor but also the ability to drive DDI innovation. Cygna Labs, known for its willingness and ability to invest in research and development with an emphasis on cloud offerings, works with Fortune 100 companies worldwide and is known for its industry expertise and long-standing relationships with large-scale enterprise clients.
An enterprise-grade DDI offering includes components that are among the fundamental network infrastructure services. It is a necessary component for enterprises and service providers to enable effective and secure connectivity across all points in the network.
-- Enhanced global support capabilities for DDI customers - As a leading
provider of security and compliance solutions, Cygna Labs brings
extensive experience of, and longstanding relationships with, the
Diamond IP business. Global DDI customers will benefit from the combined
expertise of the two companies.
-- Common focus on product development for hybrid challenges - The strong
common focus on product development for hybrid challenges in key areas
of DDI, DNS security, Active Directory and multi-cloud security will
benefit both Cygna Labs and Diamond IP customers.
-- Focus on product and technical innovation - As part of Cygna Labs the
Diamond IP business will now be able to drive the transformation of the
DDI industry through investments in, and the evolution of, its products
and services. Together the two companies will enhance their portfolios
through innovation, such as DDI cloud offerings and strategies, to meet
and exceed customers' requirements and expectations.
-- Dynamic channel relationship - This new relationship will enable BT to
resell Diamond IP to global customers. Cygna Labs will gain a strategic
advantage in the market through the ability to offer DDI services to
existing and new enterprise clients as well as new BT clients.
Alexander Haecker, CEO, Cygna Labs Group, said: "Cygna Labs has hundreds of large-scale enterprise customers relying on its DDI products and services as well as its Active Directory and Cloud Auditing solutions. Many of our customers also face challenges in the area of DDI, automation, and DNS Security. With this acquisition we will be able to help customers using either solution better manage their large-scale hybrid environments, making them more manageable and more secure."
Christian Ehrenthal, president and CEO, Cygna Labs, said: "Bringing Diamond IP into the Cygna Labs family made sense from the beginning. This acquisition is of critical importance from the intellectual property we gain to enhance our cloud and IP innovation, to the immediate enhancement of our combined product portfolios, to the addition of Fortune 100 companies to our client roster. Bringing together the expertise of these two companies will result in a streamlined solution for our global enterprise customers while increasing opportunities for Cygna Labs and Diamond IP to expand our combined global market presence."
Chet Patel, managing director of commercial at BT's Global unit, said: "We are delighted to conclude this transaction with Cygna Labs as it represents a new milestone in the delivery on our ambition to become a more agile and focused business. Through the partnership agreement we signed with Cygna Labs, we look forward to delivering technological innovation and outstanding service to our existing and new customers."
About Cygna Labs
Cygna Labs is a software developer and one of the top three global DDI vendors. Many Fortune 100 customers rely on Cygna Labs' DDI products and services, in addition to its industry-leading security and compliance solutions to detect and proactively mitigate data security threats, affordably pass compliance audits, and increase the productivity of their IT departments. For more information, visit https://cygnalabs.com.
Media Contact
Kim Dearborn, Cygna Labs Corp., +1 (646) 943-3522, pr@cygnalabs.com
Twitter
SOURCE Cygna Labs Corp.
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