Cygna Labs Completes Acquisition of Diamond IP for Additional Security Expertise
Missed a session at the Data Summit? View on demand here.
Cygna Labs, which provides companies around the world with DDI software that collectively underpins IP networks, today announced it has completed the acquisition of Diamond IP, a provider of connectivity, cloud and security services, from British Telecom ( BT) has completed.
The terms of the transaction have not been disclosed.
Christian Ehrenthal will continue as president and CEO of Cygna Labs, and Michael Dooley was named senior vice president of the DDI business unit, the companies said in a joint media advisory.
Cygna Labs, based in Miami, Florida, also provides enterprises with IT software for cloud security and compliance. Diamond IP will add a loyal customer base along with its cloud security expertise, the company said.
Defining DDI Network Software
DDI is an acronym for a range of other acronyms; it stands for Domain Name System (DNS), Dynamic Host Configuration Protocol (DHCP), and IP Address Management (IPAM). DDI is used as an abbreviated acronym to describe the integration of these three core components of networks into a single management solution.
Enterprises use Cygna Labs’ DDI products and services, in addition to leading security and compliance solutions, to detect and proactively mitigate data security threats, pass compliance audits, and increase the productivity of their IT departments.
“Modern DDI systems are at the heart of today’s diverse and hybrid networks,” said Alexander Haecker, the group CEO of Cygna Labs, in a media advisory. “They enable consistent and accurate tracking of IP address and DNS assignments.”
DDI market is growing fast
According to market analyst MarketsAndMarkets, this market is growing at an annual rate of 16%. The post-COVID-19 global DDI market size is expected to grow from $400 million in 2021 to $836 million in 2026, with a compound annual growth rate (CAGR) of 15.9%.
Key factors fueling the DDI market include the emergence of IoT platforms, the increasing BYOD trend in workplaces, expansion of existing DDI solutions and adjacent network services, and significant organizational adoption of virtualization, the analyst said. In addition, the increasing need for IPAM and the advent of IPv6 present lucrative opportunities for DDI suppliers are other factors, M&M said.
The connected device ecosystem has boomed as a result of the COVID-19 pandemic, and DDI showed its added value in this increasingly connected market, M&M said. Nearly all people who work from home required networks that had to be more resilient to function properly, fueling the need for efficient DDI solutions and services. Therefore, the emergence of IoT platforms acted as a driver for the DDI market, the analyst said.
Cygna competes in a market that includes Alcatel-Lucent, BlueCat Networks, Cisco Systems, Incognito Software Systems, BT Group, Infoblox, SolarWinds and TCPWave. It is considered one of the largest suppliers of DDI ware in the world.
“The closing of this acquisition brings us one step closer to realizing our mission to provide a seamless approach to security and compliance solutions,” said Ehrenthal. “We look forward to this next chapter as we continue our continued growth trajectory.”
VentureBeat’s mission is to be a digital city square for tech decision makers to learn about transformative business technology and transactions. Learn more
This post Cygna Labs Completes Acquisition of Diamond IP for Additional Security Expertise
was original published at “https://venturebeat.com/2022/03/18/cygna-labs-completes-acquisition-of-diamond-ip-for-added-security-expertise/”
