Managed Security Services Provider (MSSP) Market News: 28 August 2023

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

Today’s MSSP, MSP, MDR, XDR and Cybersecurity Market News

1. Industry Recognition: Having assessed the network observability for the cybersecurity industry, Frost & Sullivan has recognized Gigamon with the 2023 Global Company of the Year Award. Gigamon offers a deep observability pipeline that harnesses actionable, network-derived intelligence and insights to amplify the power of cloud, security, and observability tools, Frost & Sullivan said.

2. Wiz Eyeing SentinelOne Purchase: US-Israeli cloud security startup Wiz is mulling a potential bid for Israeli-founded cybersecurity firm SentinelOne, which has a market cap of almost $5 billion. In response to reports over the weekend over a potential deal, a Wiz spokesperson said that the company has “openly discussed the possibility of acquisition.” SentinelOne has been weighing strategic options that could include a sale and has hired investment bank Qatalyst Partners to advise on talks with potential buyers. (Source: The Times of Israel)

3. Industry Recognition: Ontinue, a provider of AI-powered managed extended detection and response (MXDR) services and winner of the 2023 Microsoft Security Services Innovator of the Year award, announced it has been named a Finalist in the Employer of the Year category in the eighth annual Stevie Awards for Great Employers, for consistently building both individual employee growth and company growth.

4. Hacking Incident: Kroll, a third party agent that gathers creditor claims on behalf of bankrupt companies and consults clients on cybersecurity, has reported that an employee's account was hacked. Kroll, which is facilitating claims for insolvent companies FTX, BlockFi and Genesis, confirmed that one of its employees was the victim of a “highly sophisticated” SIM-swapping attack. Hackers reportedly stole the Kroll employee's phone number and used it to gain access to some files with the personal data of bankruptcy claimants. (Source: Cybernews)

5. UK Cyberattack: London's Metropolitan Police said Sunday it was taking security measures after unauthorized access to the IT system of one of its suppliers following data breaches at other police forces. The company in question had access to the names, ranks, photos, vetting levels and pay numbers for officers and staff, but not addresses, phone numbers or financial details. (Source: RTL Today)

6. Ransomware Attack: The Rhysida ransomware gang has claimed responsibility for the massive cyberattack on Prospect Medical Holdings, claiming to have stolen 500,000 social security numbers, corporate documents and patient records. The attack is believed to have occurred on August 3, with employees finding ransom notes on their screens stating that their network was hacked and devices encrypted. Prospect Medical Holdings (PMH) is a US healthcare company operating 16 hospitals in California, Connecticut, Pennsylvania and Rhode Island and a network of 166 outpatient clinics and centers. (Source: Bleeping Computer)

7. Leadership Move: Expel, a security operations provider, has named Yonni Shelmerdine as its chief product officer. Shelmerdine joins Expel from SentinelOne, where he served as vice president of product management, EDR (endpoint detection and response) and XDR (extended detection and response). Prior to SentinelOne, he was the director of product management at Cybereason, and has held product management positions at Checkpoint and Lacoon Mobile Security. Shelmerdine is a veteran of the elite Unit 8200 intelligence unit of the Israeli Defense Force, where he received multiple awards for distinguished service.