Bolton Labs, a company that provides a security operations center-as-a-service (SOCaaS) offering for managed service providers (MSPs), has acquired Filipino cloud security services provider Pandora Labs for an undisclosed sum. The company also has appointed Pandora founder Isaac Sabas as its VP of product.
Bolton will integrate Pandora's delivery capabilities into its Security Operations Center Enablement Platform, as well as incorporate Pandora's proprietary training program into its Bolton Academy Training solution. Furthermore, Bolton will support Pandora's existing customers and establish a security research and development facility in the Philippines.
A Closer Look at Bolton's SOCaaS
Bolton's SOCaaS uses artificial intelligence (AI) and human expertise for threat hunting and investigation. By doing so, Bolton's SOCaaS helps organizations avoid alert fatigue and eliminate false positives, the company said.
Also, Bolton's SOCaaS empowers MSPs to become MSSPs. It ensures MSPs can monitor cyber threats in real-time without the costs of designing, staffing and scaling an SOC.
How Can MSPs Can Capitalize on SOCaaS?
In addition to Bolton, other cybersecurity companies enable MSPs to integrate SOCaaS offerings into their portfolios, and these businesses include:
- Arctic Wolf Networks: Offers CyberSOC, an SOCaaS that uses human and machine intelligence to detect, identify and respond to cyberattacks.
- CyberHat: Delivers the CYREBRO SOCaaS to organizations across all verticals.
- Proficio: Provides an SOCaaS offering that includes threat detection, protection and response capabilities.
Also, new SOCaaS offerings could help MSPs capitalize on a global cybersecurity market that is expected to grow.
The global cybersecurity market is projected to expand at a compound annual growth rate (CAGR) of 10.2 percent between 2018 and 2023 and could be worth nearly $248.3 billion by 2023, according to industry analyst MarketsandMarkets. As MSPs explore cybersecurity market opportunities, the number of MSPs to integrate SOCaaS offerings into their portfolios could increase in the years to come.