Managed Security Services Provider (MSSP) Market News: 09 January 2023

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Each business day, MSSP Alert delivers this 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), threat hunters and MSP security providers — and those who need to 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].

A. Today’s MSSP, MDR, XDR and Cybersecurity Market News

1. Cybersecurity Partnership: MCPC, an endpoint management firm, has joined forces with CyberStratos to execute cybersecurity technology acquisitions and build strategic growth channels. MCPC will become the foundational platform advised by CEA Group (CEA), an investment banking and advisory firm based in Tampa, Florida.

2. Workplace Recognition: Security Compass has been recognized as an employer of choice for multiple categories of culture excellence. Additionally, Security Compass was recertified as one of Canada's Most Admired Corporate Cultures.

3. Stellar Cyber Honored: Stellar Cyber has won three American Security Today Magazine 2022 Homeland Security Awards (ASTORS). Stellar Cyber’s Open XDR platform won a Platinum Award for Best SIEM Solution and scored Gold awards for Best Cybersecurity Solution and Best Network Security Solution.

4. MSP Deal: CMIT Solutions, an IT MSP franchisor, announced the transition of ownership from Craftsman Capital to HKW, a middle-market private equity firm focused on growth companies in the U.S. and Canada. The move is part of CMIT's strategy to double systemwide revenue to $200 million by 2028.

5. Twitter Accounts Hacked: More than 200 million Twitter accounts, including email addresses, were leaked last week, raising privacy and security concerns. Alan Gal, the co-founder of Israeli security firm Hudson Rock, reportedly first uncovered the leak and took to social media to alert the public. “The database contains 235,000,000 unique records of Twitter users and their email addresses and will unfortunately lead to a lot of hacking, targeted phishing, and doxxing,” Gal said on LinkedIn.“This is one of the most significant leaks I’ve seen.” (Source: The Hill)

6. Ransomware Attack: A ransomware gang is threatening to publish a large volume of data it stole from the Housing Authority of the City of Los Angeles unless a ransom is paid, the Los Angeles Times reported. Last week, LockBit stole 15 terabytes of data from the housing authority, which provides housing and runs the federal voucher programs for 83,000 low-income families in the city, TechCrunch reported. (Source: The Real Deal)

7. Industry Certification Achieved: Alibaba Cloud has attained the Cyber Trust (Advocate) mark certification. Developed by the Cyber Security Agency of Singapore (CSA), the Cyber Trust mark is targeted at larger or more digitalized organizations and helps them to communicate their investment in cybersecurity as a competitive edge while building trust with their customers.

8. U.S. and Japan Join Forces: The U.S. and Japan on January 6 signed an updated memorandum of cooperation on cybersecurity to strengthen operational collaboration, the U.S. Department of Homeland Security said. The memorandum was signed in Washington by U.S. Secretary of Homeland Security Alejandro Mayorkas and Yasutoshi Nishimura, Japan's Minister of Economy, Trade and Industry. (Source: Reuters)

B. Annual In-Person MSSP and Cybersecurity Conferences

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.