Managed Security Services

Managed Security Services Provider (MSSP) Market News: 8 December 2023

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. GenAI's Cybersecurity Tsunami: Cybersecurity vendor Trend Micro is warning that generative AI will spur a “tsunami” of sophisticated social engineering tactics and identity theft powered GenAI tools. Large language models (LLMs) pose a significant threat because they can eliminate the traditional indicators of phishing, such as odd formatting or grammatical errors, the company said.

2. New Communities Boss: SaaS-based MDR provider Blackpoint Cyber has appointed Mike Estep as vice president of communities. The appointment comes on the heels of the company’s $190 million investment from Bain Capital, which Blackpoint will be using to invest in partner enablement and community programs.

3. Bluetooth Vulnerability: A critical Bluetooth security bug that’s been lurking for years can potentially by exploited by attackers to take control of Android, Linux, macOS and iOS machines, according to an SCmagazine report. The flawCVE-2023-45866 — is an authentication bypass that lets attackers connect susceptible devices and inject keystrokes to achieve code execution as the victim.

4. New Board Member: Open Text Corp. has appointed Goldy Hyder to its board of directors. Hyder is president and CEO of the Business Council of Canada, a non-profit, non-partisan organization of CEOs and entrepreneurs of top Canadian companies. Open Text said Hyder would bring strong public and international policy perspectives to the board.

5. MSSP Revenue Opportunity: In what could be a boon for MSSPs and outsourced security services, nearly half of companies (47%) plan to reduce their security headcount, according to a new study by Observe, Inc. titled the State of Security Observability 2023. The firm surveyed 500 security professionals for the study. The survey also found that organizations with plans to reduce their headcount also have experienced more monthly incidents overall.

6. Gmail Gets Security Upgrade: Google has rolled out a significant security update for Gmail. The AI-powered update, Resilient & Efficient Text Vectorizer (RETVec) represents one of the largest defense upgrades in recent years, according to the Google blog post announcing the update. The update improves spam detection by 38% and reduces false positive rates by 19.4%.

7. Wall Street Thumbs Up: SentinelOne shares spiked on Wednesday after the company issued a strong quarterly revenue forecast. The stock hit a more than on-year high, according to a Reuters report. In recent months SentinelOne has rolled out a number of integration partnerships with other vendors in the managed services market.

Jessica C. Davis

Jessica C. Davis is editorial director of CyberRisk Alliance’s channel brands, MSSP Alert, MSSP Alert Live, and ChannelE2E. She has spent a career as a journalist and editor covering the intersection of business and technology including chips, software, the cloud, AI, and cybersecurity. She previously served as editor in chief of Channel Insider and later of MSP Mentor where she was one of the original editors running the MSP 501.