Managed Security Services

Managed Security Services Provider (MSSP) Market News: 22 January 2024

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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. MSSP Partnership: Trellix, an eXtended detection and response (XDR) specialist, has announced an expanded strategic partnership with MSSP One Source. Customers benefit from a Fortune 500 SOC capability built on the Trellix XDR Platform with AI-guided intelligence, enabling faster detection, investigation and remediation, the company said. One Source has multiple SOCs leveraging Trellix’s technology.

2. Product Launch: Netskope, a secure access service edge (SASE) specialist, has added to its single-vendor SASE offerings, focused on midmarket organizations and the MSPs that serve them. The ongoing expansion of the SASE portfolio enables Netskope and its partners to deliver a complete range of single-vendor SASE capabilities tailored for various customer sizes and technology environments, ranging from midmarket businesses to large enterprises, the company said.

3. Funding Round: Oleria, a company providing adaptive and autonomous identity security solutions, has raised $33 million in a Series A funding round. The investment, which brings the company’s total funding to more than $40 million, is led by Evolution Equity Partners with participation from Salesforce Ventures, Tapestry VC and Zscaler. The funding round enables Oleria to accelerate its product innovation, including AI capabilities, as well as its go-to-market strategy. 

4. Cybersecurity M&A: VC3, an MSP serving municipalities and commercial businesses across North America, has acquired DominionTech, an IT services provider supporting Vermont and New Hampshire businesses. By acquiring this highly reputed regional company, VC3 significantly expands its presence in New England, the company said.

5. Cyberattacks Doubled in 2023: Armis, the asset intelligence cybersecurity company, has released The Anatomy of Cybersecurity: A Dissection of 2023's Attack LandscapeThe report found that global attack attempts more than doubled in 2023, increasing 104%. Utilities (over a 200% increase) and manufacturing (165% increase) were the most at-risk industries. Attack attempts peaked in July, with communications devices, imaging devices and manufacturing devices experiencing intensified targeting during this period, the report said.

6. Product Launch: Cognyte Software, a specialist in investigative analytics software, has updated its LUMINAR external threat intelligence solution to incorporate generative AI capabilities, including a new AI-driven dashboard. LUMINAR is already integrated with Cognyte’s investigative analytics software and other solutions, as this release brings additional value to current and new customers, the company said.

7. Product Launch Targets MSPs: Atakama, a cybersecurity solutions provider for small and medium-sized businesses (SMBs) has unveiled the Atakama Browser Security Platform for MSPs. Developed in collaboration with 30-plus MSP design partners over the past year, the browser is an opportunity for MSPs to shape the product's future by joining the Early Access Beta Program to evaluate and provide crucial feedback, the company said.

8. CISA Issues Emergency Directive: The Cybersecurity and Infrastructure Security Agency (CISA) has issued Emergency Directive 24-01 in response to observed widespread and active exploitation of vulnerabilities in Ivanti Connect Secure and Ivanti Policy Secure appliances by malicious cyber threat actors. This Emergency Directive directs all federal civilian agencies to immediately take specific actions and implement vendor mitigation guidance to these Ivanti appliances. While only binding on Federal Civilian Executive Branch agencies, CISA urges all organizations using these products to urgently implement the mitigations outlined in the directive.

9. Product Launch: Acronis has declared an advancement with the native integration of its Advanced Security and Endpoint Detection and Response (EDR) solutions. Prompted by rapidly increasing AI-driven cyberattacks, this combination of cybersecurity capabilities will help partners solidify their defense strategy against evolving threats in a way that is efficient and cost-effective, the company said.

10. Cyber Deal in Negotiations: Zscaler is in negotiations to purchase Israeli startup Avalor for approximately $250-350 million. If the negotiations are concluded successfully, this will be the third acquisition by Zscaler in Israel, following the purchase of Canonic for about $50 million in February of last year and that of Trustdome for $40 million in April 2021. (Source: Calcalistech)

11. Security Partnership: Memcyco, a digital impersonation detection and prevention solution provider, and Deloitte, a consulting, advisory and audit services firm, have announced a strategic partnership in the cybersecurity sector. The partnership enables Deloitte to extend this range of solutions offering customers Memcyco’s anti-impersonation software. The solutions will be offered globally in regions such as the EMEA, LATAM, USA, and others.

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.