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Managed Security Services Morning Alert: 10 May 2017

Each morning of your business week, MSSP Alert broadcasts a quick lineup of news, analysis and chatter from across the global MSSP (managed security services provider) ecosystem.

Here’s the lineup for Wednesday, May 10, 2017:

8. Acquisition – Security: WidePoint Corp. has acquired the Probaris ID Identity Management System software suite for roughly $400,000.

7. Talent: Cyberark, a cybersecurity specialist that protects businesses against insider threats, has hired Marianne Budnick as chief marketing officer. She previously held similar positions at SimpliVity, Acme Packet and CA Technologies. We’ll share more details on or about May 23. (Hmmm….)

6. Trend Micro & TippingPoint: March 2017 marked one year since Trend Micro acquired TippingPoint. The results sound promising. Tipping Point has experienced 25 percent year over year growth in new business, Trend Micro says. Still, that “new business” statement can be a bit tricky. I suspect it doesn’t mean overall revenues. Instead, it likely involves revenues related specifically to first-time customers.

5. Security Layoffs: SureID has laid off more than 100 people, mostly in engineering, after failing to retain a key contract with the U.S. Navy, The Oregonian reported.

4. Funding – IT Security: RedLock, which develops a cloud infrastructure security and compliance platform, has raised $12 million in funding.  With RedLock Cloud 360, security teams gain a single view of existing and potential risks over the entire cloud infrastructure, across multiple leading public cloud service providers such as Amazon Web Services (AWS).

3. Funding – Data Security: Vera, which develops data-centric security solutions, raised $15 million in funding. The company’s technology enables “businesses of all types and sizes to secure, track and share any type of data.” Vera also addresses the EU’s pending General Data Protection Regulation (GDPR).

2. Managed Security Services: EiQ Networks has launched a co-managed SIEM and log management service called SOCVue for Splunk Enterprise Security (ES). The managed security service “combines people, process, and technology to organizations using Splunk ES,” the company says.

1. Anti-Hacker Insurance: Cyber insurance premiums in Europe could rise to between $8.5 billion and $10 billion by 2020, up from about $3.4 billion currently, according to Munich Re, a reinsurer.

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