Managed Security Services Provider (MSSP) News: 27 July 2021
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), Extended Detection and Response (XDR) 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 [email protected].
A. Today’s MSSP, MDR and Cybersecurity News Alerts
1. CEO Change – Healthcare & Cybersecurity MSP: CynergisTek founder Mac McMillan has moved back into the CEO position, succeeding Caleb Barlow. The quick CEO change comes after Barlow resigned from the business on July 26. CynergisTek is publicly held, and the company’s stock ($CTEK) is occasionally volatile. Some company watchers wonder if private equity will acquire the business for a potential MSP or MSSP platform play. CynergisTek sold off its managed print services business in 2019 to focus on its core cybersecurity and privacy services — particularly in the healthcare vertical.
2. XDR and Incident Correlation: Stellar Cyber‘s Open XDR now features incident correlation technology that leverages GraphML algorithms. The algorithms automatically group and consolidate large volumes of alerts and events into a much smaller number of “highly precise and actionable incidents,” Stellar Cyber says. We’ll share more details later today.
3. Research – Ransomware Extortion Demands Soar: The average ransomware demand reached $1.2 million per claim in the first half of 2021, up from $450,000 in the first half of 2020, according to a survey of Coalition policyholders.
4. Talent – DNS Security: Infoblox has hired VMware Carbon Black veteran Brad Rinklin as chief marketing officer.
5. Venture Capital – Cybersecurity Fund: NightDragon has closed NightDragon Growth I, a new $750 million venture capital fund. The fund is designed to invest in and advise late-stage and growth companies in the cybersecurity, safety, security and privacy industry, NightDragon says.
B. Cybersecurity Partnerships, Strategic Alliances and Integrations
2. Partnership – Managed Detection and Response (MDR): High Wire Networks Inc. has expanded its Overwatch Managed Security Services Marketplace to include endpoint detection and response (EDR) capabilities. The effort, designed for MSP partners, involves Overwatch Managed EDR, which combines SentinelOne with the Overwatch 24/7 Security Operations Center.
3. Deployment – Secure Cloud Services: European telecom giant Orange has selected Prisma Cloud from Palo Alto Networks as a cloud security solution for its network.
C. MSSP, MDR and Cybersecurity Virtual Events and Conference Calendar
- Black Hat USA (July 31-August 5, Las Vegas)
- AWS re:Inforce 2021 (August 24-25, Houston, Texas)
- CMMC Con 2021 (September 29, Virtual Event)
- FireEye Cyber Defense Summit (October 4-8, Hybrid – virtual and face to face)
- InfoSec World 2021 (October 25-27, Orlando, Florida)
- Bonus: MSSP Alert’s complete event calendar