Managed Security Services Provider (MSSP) Market News: 17 August 2022

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

Thank you in advance for news tips.

A. Today’s MSSP, MDR, XDR and Cybersecurity Market News

1. Security Operations Center (SOC): The Verizon Business Advanced SOC in Canberra, Australia is supporting Japan’s Fujifilm and its subsidiaries. Fujifilm’s network and security experts across the Asia-Pacific, Europe and the US regions can leverage daily threat intelligence feeds from Verizon’s Threat Research Advisory Center (VTRAC). Moreover, Verizon's local-language security engineers and analysts will monitor Fujifim's global remote environments on a 24/7/365 basis, the companies said.

2. Industrial Security Operations Center (SOC): Yokogawa Electric Corp. of Tokyo, Japan, has built a security operations center (SOC) for industrial customers. The OpreX IT/OT Security Operations Centre (IT/OT SOC) service is designed for customers in such vertical markets as oil and gas, petrochemicals, chemicals, iron and steel, pulp and paper, electric power, and wastewater treatment.

3. MSP Partner Program - Network Security: Backbox has launched a partner program for MSPs and MSSPs. At the same time, the company has hired Josh Stephens as chief strategy officer and Gautam Shankar as VP of MSP sales.

4. Partner Program: Deep Instinct has launched a new Stratosphere Program for MSSPs. The multi-tenant security platform is backed by:

5. Partnership - Transportation Security: Clavister and Irdeto are partnering to integrate their firewall and asset protection capabilities. The collaboration will "enable end-customers to monitor and manage their connected fleet securely and remotely while delivering world-class digital customer experiences," the companies asserted.

6. Partnership - Application Security: CREST and the Open Web Application Security Project (OWASP) have announced the OWASP Verification Standard (OVS) -- a new quality assurance standard for the global application security industry. CREST OVS provides mobile and web app developers with "greater security assurance and accredited organizations with enhanced access to the growing app development industry," the organizations said.

7. Partnership - Tanium and Microsoft MISA: Endpoint management software provider Tanium has is joining the Microsoft Intelligent Security Association (MISA), an ecosystem of independent software vendors and MSSPs that have "integrated their solutions with Microsoft security technology to help customers better defend themselves against increasingly sophisticated cyber threats," the companies said.

8. Partner Program - Penetration Testing and Attack Surface Management: NetSPI has launched the NetSPI Partner Program.

9. Partnership - Identity and Access Management (IAM): Simeio, a global MSP focused on identity and access management in the cybersecurity industry, has embraced the 1Kosmos BlockID platform.

10. Partnership - Brand Protection: Allure Security will integrate unique image checking technology developed by cybersecurity research lab and incubator CTM Insights. The goal: Find more fake websites, social media accounts and mobile apps to mitigate cyber fraud.

11. Compensation - Cybersecurity Jobs: On par with national averages for cybersecurity jobs, Booz Allen pays its entry-level cybersecurity employees salaries that range from $95,000 to $150,000, while experienced non-executive employees earn between $140,000 and $240,000, Fortune reported. Senior executives earn more than that and are eligible for bonuses, the report said.

12. Endpoint Detection and Response (EDR): VIPRE Security Group is preparing to launch VIPRE Endpoint Detection and Response (EDR) for SMBs and IT partners.

13. Cyber Risk Management Tools: Safe Security has launched an Interactive Cost Calculator and Cyberinsurance Assessment tools, which are "designed to enable data-driven discussions about risk and coverage requirements."

14. Third-Party Risk Management: AuditBoard has launched a Third-Party Risk Management solution.The solution "enables third-party risk management programs to scale more efficiently and meet the growing needs of their business," the company said.

15. Financing - Secure Blockchain Supply Chain Management: WaveDancer sold roughly 1.56 million shares of its common stock to raise $1.875 million in equity financing. The financing, known as a PIPE (private investment in public equity (PIPE), arrives after WaveDancer cancelled an agreement to acquire Knowmadics for $90 million. This capital will assist WaveDancer "with mid-term growth opportunities to achieve profitability, particularly within our professional services division," CEO Jamie Benoit said.

16. Research - Crypto Crime: A mid-year Chainalysis is here.

17. Research - DDoS Attacks Climb: The number of malicious DDoS attacks climbed 203% in the first half of 2022 compared to the corresponding quarter last year, Radware's Global Threat Analysis report revealed.

18. Hackers Target UK Water Supplier: South Staffordshire, the parent company of South Staffs Water and Cambridge Water, has suffered a cyberattack. The utility supplies drinking water to approximately 1.3 million people, and approximately 35,000 commercial customer.

19. M&A - Done Deals: Thoma Bravo has completed the SailPoint acquisition, and KKR has completed the Barracuda acquisition. Both deals were announced earlier this year.

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