Managed Security Services

Managed Security Services Provider (MSSP) Market News: 1 November 2023

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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. BlackBerry CEO to Retire: BlackBerry announced that John Chen, executive chair and CEO, will retire from the company effective November 4. Richard (Dick) Lynch will succeed Chen as board chair and will also serve as interim CEO while BlackBerry completes its search for a permanent CEO.

2. Funding Round: Graylog, a security information and event management (SIEM) and log management company, has secured $39 million in funding to help continue its growth. New investor Silver Lake Waterman and existing investors Piper Sandler Merchant Banking and Harbert Growth Partners led the funding.

3. Product Launch: Cohesity, a specialist in AI-powered data security and management, has announced the launch of Cohesity SmartFiles on the Snowflake Data Cloud. This new integration enables businesses to derive analytical insights from their on-premises and cloud data while maintaining data sovereignty and meeting compliance requirements.

4. Security Partnership: ExtraHop, a cloud-native network detection and response (NDR) specialist, has launched ExtraHop Zero Trust Extension for Netskope. The latest integration from ExtraHop will support enterprises on their zero trust journey, offering deep visibility into the behaviors and communications among devices and services in remote and distributed networks, the company said.

5. M&A Deal Announced: Accenture has signed an agreement to acquire 6point6, a UK technology consultancy specializing in cloud, data and cybersecurity. The acquisition will enhance Accenture’s strategy and architecture capabilities, with a particular emphasis on central government, defense and security and financial services, the company said.

6. Funding Round: Aembit, a workload identity and access management (IAM) company, has received an investment from the CrowdStrike Falcon Fund. CrowdStrike's investment closes Aembit's previously announced seed funding round from Ballistic Ventures, Ten Eleven Ventures and Okta Ventures.

7. Cyberattack on British Library: The British Library sustained a technology outage after it was hit by a cyberattack, affecting services online and its sites in London and Yorkshire. The attack derailed access to the library's website, as well as the catalogue and digital collections. The British Library said on Tuesday it had launched an investigation into the incident with the support of the National Cyber Security Centre (NCSC) and other cybersecurity specialists. (Source: The Guardian)

8. Leadership Move: Ballistic Ventures, a venture capital firm dedicated to funding and incubating entrepreneurs and innovations in cybersecurity, announced that former U.S. National Cyber Director Chris Inglis and former Cybersecurity and Infrastructure Security Agency (CISA) Chief of Staff Kiersten Todt have joined the firm as federal advisors.

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.