Managed Security Services

Managed Security Services Provider (MSSP) Market News: 20 December 2023

(Getty Images)

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

  • The Content: Written for MSSPs and MSPs; threat hunters; security operations center as a service (SOCaaS), managed detection and response (MDR) and eXtended detection and response (XDR) providers; and those who partner 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 Managing Editor Jim Masters: [email protected].

Today’s MSSP, MSP, MDR, XDR and Cybersecurity Market News

1. Security Program Launch: OpenText is offering its Cyber Resilience Program (CRP) to help customers effectively reduce risk, preserve trust and minimize disruption. The OpenText holistic security portfolio of smarter and simple solutions can be tailored for individual needs, the company said. This can accelerate process maturity in eDiscovery, digital forensics and investigations, threat detection and response, breach remediation, risk and compliance management, data and privacy protection, application security, vulnerability assessment and many other areas of cybersecurity.

2. Industry Recognition: Aqua Security, a specialist in cloud native security, has been named to the Fortune Cyber 60 list of the most important venture-backed startups. For the inaugural list, Lightspeed Venture Partners partnered with Fortune to identify the top companies that offer enterprise-grade cybersecurity solutions. Aqua was included in the “growth stage” category for its notable growth over the last year.

3. Funding Round: Phosphorus Cybersecurity, a provider of unified security and device management for the eXtended Internet of Things (xIoT), announced that it has raised an additional $27 million in Series A2 funding led by Evolution Equity Partners. Phosphorus said that the additional capital will enable it to expand its R&D and go-to-market initiatives to meet the growing demand for its Cyber-Physical Systems (CPS) Protection Platform.

4. Product Release: QuSecure, a specialist in post-quantum cryptography (PQC), announced the availability of its QuProtect cybersecurity software in AWS Marketplace. QuProtect's AWS release extends the reach of QuSecure’s enterprise security software solution to organizations of all sizes seeking protection against emerging cyber threats.

5. Company Expansion: Gorilla Technology Group, a global provider of AI, IoT technologies and cybersecurity, is opening new distribution company, Gorilla Distribution Partners, in Egypt. Gorilla Distribution Partners will be located in Cairo, enabling Gorilla to strengthen overall customer satisfaction by streamlining the supply chain, efficiently managing logistics and ensuring timely deliveries, the company said.

6. Ransomware Research Report: Sophos, a company focused on delivering cybersecurity as a service, has released its new research report, “CryptoGuard: An Asymmetric Approach to the Ransomware Battle.” Sophos found that ransomware groups Akira, ALPHV/BlackCat, LockBit, Royal and Black Basta are deliberately switching on remote encryption for their attacks.

7. M&A Deal Closes: Proofpoint, a cybersecurity and compliance specialist, announced the completion of its acquisition of Tessian, a company focused on advanced AI to automatically detect and guard against both accidental data loss and evolving email threats.

8. Ukraine Mobile Carrier Suffers Cyberattack: Ukraine's biggest mobile operator Kyivstar said on Wednesday it had restored all services a week after a massive cyberattack damaged IT infrastructure and affected air raid alert systems in some parts of the country. Services of the company, which counts more than half of Ukraine's population as mobile subscribers, were knocked out after hackers used an employee's compromised account to carry out the attack. (Source: Reuters)

9. U.S. Authorities Hack Blackcat: The U.S. Justice Department announced this week a disruption campaign against the ALPHV/Blackcat ransomware group that has targeted the computer networks of more than 1,000 victims and caused harm around the world since its inception, including networks that support U.S. critical infrastructure. Over the past 18 months, ALPHV/Blackcat has emerged as the second most prolific ransomware-as-a-service variant in the world based on the hundreds of millions of dollars in ransoms paid by victims around the world, federal authorities said.

10. Okta Targets Spera Acquisition: Okta, an identity and access management company, is acquiring cybersecurity firm Spera, with an expected close of the deal in early February. Okta said the Spera acquisition will build on its identity threat detection and response capabilities while helping customers “elevate their identity security, posture management and identify, detect and remediate risks.” Terms of the deal weren’t disclosed, but Calcalist reports that Okta’s paying approximately $100 million to $130 million for Spera, contingent on milestones. (Source: TechCrunch)

11. NSA Publishes Year in Review Report: The National Security Agency (NSA) has published its 2023 Cybersecurity Year in Review, sharing its recent cybersecurity successes and how it is working with partners to deliver on cybersecurity advances that enhance national security. This year’s report highlights NSA’s work with U.S government partners, foreign partners, and the defense industrial base.

Jim Masters

Jim Masters is Managing Editor of MSSP Alert, and holds a B.A. degree in Journalism from Northern Illinois University. His career has spanned governmental and investigative reporting for daily newspapers in the Northwest Indiana Region and 16 years in a global internal communications role for a Fortune 500 professional services company. Additionally, he is co-owner of the Lake County Corn Dogs minor league baseball franchise, located in Crown Point, Indiana. In his spare time, he enjoys writing and recording his own music, oil painting, biking, volleyball, golf and cheering on the Corn Dogs.