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Managed Security Services Provider (MSSP) News: 04 August 2020

Each business day, MSSP Alert broadcasts a quick lineup of news, analysis and chatter from across the managed security services provider ecosystem.

  • The Content: Written for MSSPs, SOC as a Service (SOCaaS), Managed Detection and Response (MDR) and MSP security providers — and those who need to partner up with such companies.
  • Frequency and Format: Every business morning. Typically one or two sentences for each item below.
  • Reaching Our Inbox: Send news, tips and rumors to Joe@AfterNines.com.

A. Today’s MSSP Alerts

1. Earnings – Privileged Access Management (PAM): CyberArk ($CYBR) revenue was $106.5 million in Q2 2020, up 6.3 percent from Q2 2019. Also, net income was a $4.3 million loss for Q2 2020, compared to a net income profit of $13.4 million in Q2 of 2019. The results generally beat Wall Street’s expectations.

2. Earnings – Email Security: Mimecast ($MIME) revenue was $115.2 million in Q1 of fiscal year 2021, up 16 percent from Q1 of fiscal year 2020. Also, net income was $3.1 million, compared to a net loss of $4.0 million in the corresponding quarter last year. The figures generally beat Wall Street’s expectations.

3. Growth – Data Analytics and Security: Devo Technology‘s revenue in Q2 2020 rose 80 percent compared to Q2 of 2019. Actual revenue and profit figures were not disclosed.

4. Talent – Managed Detection and Response (MDR): GoSecure has hired Trustwave veteran Rick Miller as chief operating officer.Miller is responsible for day-to-day operations at GoSecure.

5. Talent – Global Security Services: Bitdefender has promoted Daniel Clayton as VP of global services and support. Clayton leads a new Service Operations Organization that integrates:

  • Bitdefender’s Security Operations, responsible for monitoring and securing the customer;
  • Customer Success Operations, responsible for understanding the customer and helping them achieve their goals; and
  • Bitdefender Global Support Operations, responsible for technical support.

Clayton previously oversaw Bitdefender’s global managed services organization. He also launched Bitdefender’s managed detection and response (MDR) operations in San Antonio, Texas.

6. Talent – Risk Mitigation and Incident Response: Kroll, a division of Duff & Phelps, has hired Alex Shim as Cyber Risk practice leader for Japan and Korea, expanding the firm’s capabilities in Asia Pacific in response to the rising demand for digital forensics, incident response (IR) and managed security services, the company says. Shim’s experience with endpoint detection and response technology will fuel the growth of Kroll’s managed detection and response (MDR) solutions in Japan and Korea, Kroll asserts.

7. Scalability – Managed Security Services: High Wire Networks has invested an additional $500,000 to boost network resilience and capacity of its  Overwatch Managed Security Platform as a Service, the company disclosed during the CompTIA ChannelCon Online conference. The investment is the first step in a multiyear, multimillion-dollar network expansion plan for the Overwatch platform, which delivers X Detection and Response (XDR) technology and 24/7 Security Operations Center (SOC) as a service to MSPs and their business clients, High Wire asserts.

8. MSSP Rebrands: Saalex Information Technology (SaalexIT), a division of Saalex Corp., is changing its name to Valeo Networks, which it acquired in April 2020.

9. Application Firewall: StrongBox IT, an information security services company specializing in vulnerability assessments, penetration tests and security audits, has released an application firewall called Modshield SB.

10. GandCrab Ransomware – Alleged Hacker Arrested: Details from ZDNet are here.

11. Cyber Insurance and Backup Technology: Spin Technology has introduced Cyber Liability Insurance for customers that run its SpinOne backup platform.

12. Security Optimization: AttackIQ, a provider of Breach and Attack Simulation (BAS) systems, has unveiled the AttackIQ Security Optimization Platform to arm cybersecurity leaders with better insights, better decisions, and real security outcomes, the company says.

13. Research – Q2 Ransomware Report: Coveware’s research findings are here.

14. Cloud Security Monitoring – Amazon Web Services (AWS): Threat Stack has launched Threat Stack Container Security Monitoring for AWS Fargate.

B. MSSP Partnerships, Cybersecurity Alliances and Integrations

1. Cloud Distribution – Endpoint Security Software: The Synnex Stellr cloud marketplace has agreed to distribute Kaspersky to U.S.-based resellers. Synnex and Kaspersky have an existing relationship in Canada.

2. Integrations – SOAR and Phishing Mitigation: Cofense has unveiled enhanced phishing analysis integrations with Cofense Triage and Cofense Intelligence to Palo Alto Networks Cortex XSOAR, ServiceNow Security Incident Response and Splunk Phantom.

3. Integrations – SIEM and SOAR: Ivanti Neurons Platform now integrates with the Splunk Security Operations Suite — with connections to Splunk Enterprise Security (SIEM) and Splunk Phantom (SOAR). The integrated solution “enables organizations to realize an autonomous edge, which offers hyper-automated self-healing, self-securing and self-service capabilities,” Ivanti asserts.

4. Security Marketplace: AttackIQ has launched the Preactive Security Exchange (PSE), a platform on which security vendors can demonstrate the value and efficacy of their products, the company says. Early partners include BlackBerry, Cisco Systems, Illumio, LogRhythm, Microsoft, RSA, and SentinelOne, among others.

5. Open Source Security Foundation: Microsoft is now a member

C. Upcoming Cybersecurity Conferences

  1. Black Hat USA 2020 (August 1-6, Virtual Conference)
  2. Ingram Micro Security Solutions Summit 2020 (August 12-13, Virtual Conference)
  3. Exabeam Spotlight20 (November 9-11, Virtual Conference)
  4. Palo Alto Networks Ignite20 (November 9-12, Las Vegas)
  5. RSA Conference 2021 (May 17-21, San Francisco)
  6. BonusMSSP Alert’s complete event calendar
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