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Managed Security Services Provider (MSSP) News: 07 December 2018

Each morning MSSP Alert broadcasts a quick lineup of news, analysis and chatter from across the global managed security services provider, SOC (security operations center) and IT outsourcing ecosystem.

Here’s the daily business update for Friday, December 7, 2018.

7. Launch - SOC as a Service: Speedcast International Limited, a provider of remote communication and IT solutions, has launched a Cybersecurity as a Service and an associated Security Operations Center (SOC). The SOC proactively monitors the protection level of customer sites, provides alerts and reports, and protects against malicious threats, the company says.

6. Talent - SOC Hires: Security model management specialist ReliaQuest has opened an office in Leopardstown, Dublin. Founded in 2007, ReliaQuest employs more than 300 staff members across its three office locations in Tampa, FloridaLas Vegas, Nevada; and Dublin, Ireland. ReliaQuest plans to create 700 jobs in the next three years, with 100 of these located in their Dublin office. These jobs will mainly be within their Security Operations Center, consisting of security engineers, analysts and content develop.

5. Partnership: FlexManage, an IT services provider, has partnered with Foresite for cybersecurity and compliance services.

4. Secureworks Financial Results: Secureworks revenue was $133.1 million in fiscal Q3 2018, up 13.6 percent from the corresponding quarter last year. The Top 100 MSSP's financial performance beat Wall Street's expectations on multiple fronts. We'll share more details soon.

3. Huawei - Security Overhaul?:  Huawei apparently is planning a $2.6 billion security overhaul. The reason: Multiple countries and service providers are distancing themselves from Huawei's equipment or outright banning the gear. Critics are worried that Huawei's equipment allegedly supports the Chinese government's spying efforts worldwide. Japan is the latest country to carefully reconsider Huawei equipment deployments. Further complicating matters, Huawei's CFO has been arrested in connection with alleged product sales to Iran. The transactions allegedly include U.S. component sales, which are illegal under current U.S. sanctions. A court hearing is scheduled for today.

2. Black Hat Europe 2018: Our live blog of this week’s conference — and complete ongoing coverage of all Black Hat events — is compiled here.

1. MSSP Pricing Guide: We’ll share managed security pricing tips during our December 13 webcast. Register now to join us.

Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.