Cybersecurity daily news

MSSP Market News: Rapid7, Noetic Cyber, IBM, Microsoft

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Each business day MSSP Alert delivers a quick lineup of news, analysis, and chatter from across the MSSP, MSP and cybersecurity world.

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Send news, tips and rumors to Managing Editor Jim Masters: [email protected].

Today’s MSSP Alert Market News:

1. Rapid7 to Acquire Noetic Cyber: Rapid7, a specialist in extended risk and threat detection, has signed a definitive agreement to acquire Noetic Cyber, an innovator and a leader in cyber asset attack surface management (CAASM). The addition of Noetic Cyber’s CAASM solution to Rapid7’s cybersecurity solutions will provide more visibility into a customer’s internal and external assets, on-premises and in the cloud, the companies said. The acquisition is expected to close during Rapid7’s fiscal third quarter. Following the close of the transaction, Rapid7 is expected to make Noetic Cyber capabilities available to its customers this summer. 

2. IBM, Microsoft Strengthen Partnership: IBM and Microsoft have strengthened their cybersecurity collaboration to help clients simplify and modernize their security operations and manage and protect their hybrid cloud identities. By combining IBM Consulting's cybersecurity services with Microsoft's security technology portfolio, the two companies say they are providing clients the tools and expertise needed to help them simplify and modernize their end-to-end security operations, harness the power of the cloud, protect data and drive business growth.

3. Security Partnership: Arctic Wolf, a cloud security specialist, announced that the Arctic Wolf Platform is the first native cybersecurity platform to integrate with the iManage Knowledge Work Platform. This new partnership will enable the Arctic Wolf Platform to conduct comprehensive monitoring, detection and response actions against suspicious user activity and advanced cyberattacks targeting their iManage environments, the company said.

4. Cost of Cyber Insurance Drops: Cyber insurance premiums are falling globally as businesses become more adept in curbing their losses from cybercrime, even as ransomware attacks are rising, insurance broker Howden said in a report. Insurance premiums to protect companies against cyberattacks rocketed in 2021 and 2022, as the pandemic drove cyber incidents. But premiums have been dropping in the past year, as the cyber insurance market saw double-digit price reductions in 2023-24, Howden said. (Source: Reuters)

5. Industry Recognition: Quorum Cyber has been named a finalist of the 2024 Microsoft Security Partner of the Year Award. With honorees chosen from more than 4,700 nominations from 100-plus countries in various categories, Quorum Cyber was recognized for providing outstanding solutions and services in Security, the company said. The announcement follows Quorum Cyber's recent news of becoming a Microsoft Security Excellence Awards double award finalist for both Security MSSP of the Year and Security Customer Champion.

6. Leadership Move: Deepwatch, a managed security platform provider, has appointed John DiLullo as CEO, succeeding Charlie Thomas who is retiring and will serve as chairman of the Board of Directors. DiLullo is a veteran of the cybersecurity industry with more than 30 years of experience leading global technology teams. He most recently served as CEO of LiveVox. Prior to LiveVox, DiLullo was the CEO of network threat detection specialist Lastline, which was acquired by VMware in 2020. DiLullo has also held executive leadership positions at Forcepoint, F5 Networks, Cisco, HP/Aruba Networks and Sonicwall.

7. SIXGEN Acquires Secure-EE: SIXGEN, a solutions provider of cybersecurity products and expertise to U.S. national intelligence, defense and critical infrastructure customers, has acquired Secure Enterprise Engineering, Inc. (Secure-EE). Secure-EE is a provider of cybersecurity products and services across various domains, and marks SIXGEN’s first acquisition following Washington Harbour Partners’ investment in the company in November 2023. This acquisition brings unique capabilities, software products, tier I engineers and longstanding customer relationships, accelerating SIXGEN’s strategic vision to empower the digital warfighter, the company said.

8. Post-Quantum Security Partnership: The National Institute of Standards and Technology (NIST) leads a consortium of organizations as part of its National Cybersecurity Center of Excellence (NCCoE) “Migration to Post-Quantum Cryptography (PQC)” project. Now, Post-Quantum, "the oldest specialist PQC firm in the world," has been selected to be a part of the project, supporting it in developing tangible PQC implementations and use cases, the company said. The NCCoE project brings together experts from industry, government and academia to address the real-world needs of securing complex IT systems and protecting critical infrastructure. Participants include Palo Alto Networks, Amazon Web Services (AWS), Cisco, Microsoft and VMWare who are sharing their expertise in planning for and implementing post-quantum cryptographic algorithms.

9. Company Reports Hacking Incident: Prudential Financial, a global financial services company, has revealed that more than 2.5 million people had their personal information compromised in a February data breach. According to an 8-K form filed with the U.S. Securities and Exchange Commission, Prudential detected the incident on February 5, one day after a suspected cybercrime group breached its systems and accessed administrative/user data and employee/contractor accounts. In March, Prudential revealed in a filing with the Maine Attorney General's Office that it notified over 36,000 people whose personal information, including names, driver's license numbers, and non-driver identification card numbers, was stolen during the breach. (Source: Bleeping Computer)

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.