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Managed Security Services Provider (MSSP) Market News: 15 August 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. Product Launch: Addigy, a provider of Apple device management solutions, has launched its Compliance and Conditional Access engine, a comprehensive solution that enables one-click device compliance for macOS devices. Real-time monitoring and reporting capabilities increase efficiency, boost user transparency and help to qualify for cybersecurity insurance and other audits, while saving time and resources and reducing cost, the company said.

2. Funding Boost: Field Effect, a global cybersecurity solutions and services provider, has secured a $30 million debt facility for strategic acquisitions and global expansion through Scotiabank's Technology Innovation and Banking Group. Field Effect has been on a rapid path to growth since closing its US$34.5 million Series A funding in late 2022, led by Edison Partners (Princeton, New Jersey). "We've invested nearly a decade perfecting our flagship cybersecurity solution, Covalence. Now it's time to show the world great cybersecurity and build the type of brand awareness our solution deserves," said Field Effect CEO Matt Holland.

3. IBM Invests in Ox: OX Security announced that it received an investment from IBM. The investment represents the companies' intent to collaborate on expanding the frontiers of software supply chain security and create value for developers of cloud-native solutions.

4. Cybersecurity Conference: The 14th Annual Billington CyberSecurity Summit will feature more than 40 sessions with 200 speakers discussing cyber issues that threaten national security and how the public and private sectors are working to address these threats. The summit, which will be held September 5-8 at the Ronald Reagan Building and International Trade Center in Washington, D.C., convenes government and industry cyber executives to explore the theme: Advancing Cybersecurity's Impact in an Age of Heightened Risk.

5. Product Launch: Bitdefender has launched an advanced security feature for iOS users, Scam Alert. The new technology protects users from phishing scams delivered through SMS/MMS messages and calendar invites. Layered on top of existing protection in Bitdefender Mobile Security for iOS, Scam Alert proactively identifies attacks and prevents them from reaching the mobile user.

6. Cyberattack Reported: Clorox said on Monday it had taken certain systems offline after unauthorized activity disrupted some business operations. The company said it was implementing workarounds for certain offline operations in order to continue servicing its customers and had engaged third-party cybersecurity experts to support its investigation and recovery efforts. Clorox is also coordinating with law enforcement to address the issue that had affected some of its information technology systems. (Source: Reuters)

7. Malware Alert: The threat actors behind the Monti ransomware have resurfaced after a two-month break with a new Linux version of the encryptor in its attacks targeting government and legal sectors. The new version, according to Trend Micro, is a departure of sorts, exhibiting significant changes from its other Linux-based predecessors. "Unlike the earlier variant, which is primarily based on the leaked Conti source code, this new version employs a different encryptor with additional distinct behaviors," Trend Micro researchers Nathaniel Morales and Joshua Paul Ignacio said.

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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.