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Managed Security Services Provider (MSSP) News: 03 December 2020

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Each business day, MSSP Alert broadcasts a quick lineup of news, analysis and chatter from across the managed security services provider ecosystem.

  • The Content: Written for MSSPs, SOC as a Service (SOCaaS), Managed Detection and Response (MDR), Extended Detection and Response (XDR) and MSP security providers — and those who need to partner up 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 [email protected].

A. Today’s MSSP News Alerts

1. M&A - Managed Compliance Services: Sysnet Global Solutions, a provider of cybersecurity and compliance solutions for SMBs, has acquired the Managed Compliance Solutions (MCS) division of ControlScan. Financial terms were not disclosed.

2. M&A - IT Security Services: Spirit Technology Solutions (formerly Spirit Telecom) is acquiring Brisbane-based cyber security specialist Intalock, IT Munch reports.

3. Secureworks ($SCWX) Quarterly Results: Secureworks' net revenue was $141.6 million in Q3 of fiscal 2021, essentially flat with the corresponding quarterly last year. Net loss was $3.6 million, smaller than the $7.9 million net loss in the corresponding quarter last year. Nearly 300 customers now leverage Secureworks' threat detection and response (TDR) security application. Secureworks, a Top 250 MSSP, positions TDR as an alternative to legacy SIEMs. Shares rose about 8 percent on the earnings news.

4. SD-WAN Appliances: Fortinet has announced the FortiGate Rugged 60F and FortiGate Rugged 60F with built-in LTE next-generation firewalls. The secure SD-WAN appliances are certified to perform in operational technology (OT) environments.

5. Cloud Security and Government Compliance: Bitglass has achieved FedRAMP Authorization by the Federal Risk and Authorization Management Program (FedRAMP).

6. Splunk Plummets: Splunk's stock fell about 21.5 percent after the company released a weaker-than-expected revenue forecast along with weaker-than-expected quarterly results. Indeed, Q3 revenues for fiscal 2021 were $559 million, down 11 percent from Q3 of fiscal 2020. Also, the company had a $201.5 million net loss, larger than the $57.6 million net loss in Q3 last year.

7. Hackers Target COVID-19 Vaccine Supply Chains: IBM is sounding the alarm over hackers targeting companies critical to the distribution of COVID-19 vaccines, a sign that digital spies are turning their attention to the complex logistical work involved in inoculating the world’s population against the novel coronavirus, Reuters reports.

B. MSSP Partner Programs and Strategic Cybersecurity Alliances

1. Partnership - SOAR and EDR: Swimlane has integrated its security orchestration, automation and response (SOAR) solutions with McAfee MVISION Endpoint Detection and Response (EDR) and McAfee MVISION ePolicy Orchestrator (ePO).

2. Partnership - Web-based Workflow Security: Authentic8 and Google Cloud are expanding the availability of Authentic8 Silo across Google Cloud’s infrastructure with one-click procurement, the companies say.

3. Vulnerability Management - AWS and ServiceNow: Tenable's new cloud scanning technique, called Frictionless Assessment, is now available in AWS Marketplace. Customers can continuously scan and maintain visibility across cloud-based assets without needing to deploy an agent, the company says. Also, Tenable now integrates with ServiceNow to streamline vulnerability assessment and remediation.

C. MSSP and Cybersecurity Virtual Events and Conference Calendar

  1. Black Hat Europe 2020 (December 7-10, Virtual Conference)
  2. Secureworks Connect 2021 (February 9-10, Virtual Conference)
  3. RSA Conference 2021 (May 17-21, Virtual Conference)
  4. Black Hat USA 2021 (July 31-August 5, Las Vegas)
  5. FireEye Cyber Defense Summit 2021 (October 4-8)
  6. BonusMSSP Alert’s complete event calendar
Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.