MSSP Market Update: Thrive Acquires Secured Network Services

In 2024, Barracuda Managed XDR logged 11 trillion IT events — around 350,000 events per second — to identify potential risks and the thousands of incidents that required immediate defensive action. Threat analysts in Barracuda’s Security Operations Center (SOC) used this dataset to highlight the most common ways threat actors tried to breach and disrupt targets in 2024.    

That data is the basis for Barracuda's annual review of XDR detection and incidents, which released today.

The report found that ransomware threats increased fourfold during 2024, alongside the widespread availability and use of Ransomware-as-a-Service (RaaS) platforms. Email threats that made it through to user inboxes were the fifth most detected overall, highlighting the growing risk of sophisticated and evasive attacks enabled by Phishing-as-a-Service (PhaaS) platforms, Barracuda's research found. 

It also illustrates where threat actors expect customers to be most vulnerable, including inadequate authentication measures for account logins, poor password policies, and a lack of education about social engineering, alongside under-protected VPNs and the poorly managed use of remote desktop protocols. Check it out here!

Now, here's today's MSSP update. Drop me a line at [email protected] if you have news to share or want to say hi!

Today's MSSP Update

1. Thrive acquires SNS: MSSP Thrive announced today it has acquired Secured Network Services (SNS), a New Hampshire-based vertical market-focused IT provider. The acquisition will deepen Thrive's vertical industry reach. This is Thrive's eleventh acquisition in the past two years, following Michigan-based Safety Net and North Carolina-based The Longleaf Network. Thrive also recently elevated Bill McLaughlin to the CEO role and appointed Ben Reich as Chief Financial Officer to support this new era of growth. 

2. Grip Security launches SaaSSPM:  Grip Security announced its SaaS Security Posture Management (SSPM) solution is generally available. The SSPM solution identifies misconfigurations, enforces best practices, and strengthens SaaS security posture against emerging risks. Grip SSPM uses visibility and automation to combine misconfiguration remediation and policy enforcement to address SaaS security end-to-end and consolidate SaaS security into a single platform.

3. Cyera's executive appointments: Data security firm Cyera has announced three executive appointments to fuel further growth, the company said. Pete Chronis joins the company’s Board of Directors, Niels C. Jensen has been named Vice President of American Sales, and Yael Wissner-Levy has been appointed Vice President of Global Communications. Congratulations!

4. Schneider Electric joins Nozomi MSSP Elite partner program: Energy management and automation vendor Schneider Electric has joined the Nozomi Networks MSSP Elite Partner Program. Within the program, Schneider will offer managed security services (MSS) based on Nozomi's solutions to energy and chemicals, water, consumer packaged goods, power and grid data center and critical infrastructure sectors. Schneider Electric's enhanced MSS capabilities now include OT and IoT visibility, network monitoring, threat detection, and risk management.

5. Cyolo, NVIDIA launch AI-powered cybersecurity for OT/ICS: Secure remote access for OT/ICS solutions provider Cyolo announced this week the launch of its AI-based cybersecurity solution for Cyber-Physical/OT environments. Powered by NVIDIA, Cyolo’s solution secures Cyber Physical environments to protect industrial systems. The new Cyolo Privileged Remote Operations (PRO) Platform solution integrates NVIDIA’s cybersecurity AI for zero-trust network access (ZTNA) for critical infrastructure industries like manufacturing, power, and process control.