Falanx Group: SolarWinds MSP’s Preferred MSSP for UK, South Africa
SolarWinds MSP has appointed British MSSP Falanx Group as a Threat Monitoring Service Provider (TMSP) for the UK and South Africa. The announcement comes after SolarWinds last month unveiled its Threat Monitoring Service Program at its Empower MSP customer conference in Scottsdale, Arizona.
Instead of trying to transform all MSPs into MSSPs, SolarWinds essentially is building a two-tier security service provider ecosystem. The concept: Work closely with carefully selected MSSPs (a.k.a. TMSPs), and then have those companies extend managed security services to smaller MSPs.
With that two-tier concept in mind, Falanx will meet with SolarWinds’ MSP customers in the UK and South Africa next month to discuss the delivery of combined security services and technology.
A similar strategy is under way in North America. That effort involves Secuvant, a Top 100 MSSP for 2018 and 2017, as an inaugural TMSP. SolarWinds MSP customers that partner with Secuvant can provide risk assessments, incident response and other security solutions and managed security services.
A Closer Look at the Threat Monitoring Service Program
The Threat Monitoring Service Program supports MSPs that have purchased SolarWinds Threat Monitor security software for IT operations, the company stated. It is designed for MSPs that leverage Threat Monitor and want to partner with a TMSP to deliver tandem managed security services.
TMSPs must possesses industry-recognized certifications, Threat Monitor expertise and MSP market experience, SolarWinds indicated. If they meet SolarWinds’ criteria, TMSPs can provide MSPs with a variety of Threat Monitor security services, including:
- Continuous security monitoring and alerts.
- Incident analysis and remediation.
- Threat Monitor deployment.
SolarWinds Updates Its IPO Target Price
The managed security push emerges as SolarWinds gears up for a potential IPO. The company on October 18, 2018, updated its initial public offering (IPO) plan and announced it will try to sell roughly 25 million shares at about $16 per share, according to a U.S. Securities and Exchange Commission (SEC) filing. The company previously planned to sell about 42 million shares at about $17 to $19 per share.
The SolarWinds IPO could launch by the end of the week. Private equity firms Silver Lake Partners and Thoma Bravo also will maintain their respective SolarWinds ownership stakes.