Managed Security Services Provider (MSSP) Market News: 07 September 2022 -

Each business day, MSSP Alert delivers this 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), threat hunters and MSP security providers — and those who need to partner with such companies.
Frequency and Format: Every business morning. Typically one or two sentences for each item below.
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A. Today’s MSSP, MDR, XDR and Cybersecurity Market News

1. MSSP and MDR Momentum: Cyderes, the MSSP and MDR provider formed through the merger of Herjavec Group and Fishtech Group, announced several growth milestones for the first half of 2022. The metrics included:

63% growth in managed services, MDR and XDR revenues;
continued profitability, though actual profit figures; and
EBITDA results that exceeded target by over 100%.

Still, actual dollar figures for revenues, profits and EBITDA were not disclosed.

2. Partnership – SASE and SOC Services: Wipro and Palo Alto Networks are partnering to deliver managed security and network transformation solutions like SASE (Secure Access Service Edge), cloud security and next-generation SOC (Security Operations Center) solutions based on Zero Trust principles for global enterprises, the two companies said.

3. MSP Partner Program: Kaspersky’s United Partner Program now offers a revised rebate system, extended training courses and more rewards for managed service providers (MSPs), the cybersecurity company said.

3. Talent - Global Privacy and Cybersecurity Practice: Hunton Andrews Kurth has named Sarah Pearce as a partner in the firm’s London office.

4. Splunk Hires Former Zoom CISO: Splunk hired named Jason Lee as its chief information security officer (CISO), effective immediately.

5. Research - Security Awareness Training ROI: Here is the 2022 Global Cybersecurity Awareness Training Study from ThriveDX.

6. Los Angeles School District Ransomware Attack: The cyberattack that disabled computer systems across the Los Angeles Unified School District school was criminal in nature, but by September 6 most online services — including key emergency systems — were operating safely, The Los Angeles Times reported.

7. Supply Chain Cyberattack: Hackers that breached insurance provider Overby-Seawell Company wound up stealing personal data including Social Security numbers, addresses and account numbers of home mortgage holders at KeyBank, according to The Associated Press.

8. Samsung Breached: Samsung Electronics suffered a cybersecurity breach in late July 2022 that exposed personal information of some customers in the United States, Reuters reported.