Managed Security Services Provider (MSSP) Market News: 18 September 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. ESET Wins Patent Case: ESET reports that a California federal jury has ruled in its favor, finding that the has not committed patent infringement on Finjan Holdings LLC's technologies. The court case focused on a number of ESET's products and technologies, including ThreatSense, LiveGrid and LiveGuard. Despite Finjan's claims, ESET defended its position and received favorable judgement, the digital security company said.

2. Security Partnership: Wipro, a technology services and consulting company, is partnering with ServiceNow to create "Wipro CyberTransform - Intelligent ServiceNow Risk and Security Solutions," a solution that enables organizations to integrate their risk, compliance and security postures more quickly and effectively.

3. Leadership Move: Global Market Innovators (GMI), the largest woman and minority-owned technology company headquartered in Arizona, has named Tim Roemer as the chief security officer (CSO). Roemer previously served as the director of the Arizona Department of Homeland Security and the state's chief information security officer (CISO). In his new position, Roemer will oversee GMI's security and cybersecurity operations. His career includes 10 years with the Central Intelligence Agency (CIA), including two years in the White House Situation room where he provided critical national security updates to the President, Vice President and National Security Council.

4. Cybersecurity Philanthropy Launches: Kyndryl, an IT infrastructure services provider, has launched the Kyndryl Foundation, a private, nonprofit foundation that delivers trust-based philanthropic grants to support communities through programs that address critical societal issues. The funding will focus on two specific areas of cybersecurity education: "Growing an Inclusive Cybersecurity Workforce" and "Preparing Nonprofits to Be Cyberattack-Smart." The application window for nonprofit organizations seeking funding is now open through November 6, 2023.

5. Leadership Move: Resecurity has appointed Mohammed Alghamdi as managing director for its operations in the Kingdom of Saudi Arabia (KSA). Alghamdi's career includes tenures at Booz Allen Hamilton, Oliver Wyman, and Bain & Company.

6. Kuwait Reports Cyberattack: Kuwait's finance ministry said on Monday that one of its systems had suffered a cyberattack in the early morning but that the ministry continued to work normally. The ministry said in a statement that protection systems and procedures had been activated and "the level of the hacking attempt is being assessed." The salary transfers will not be affected, the ministry added. (Source: Reuters)

7. Hackers Lift Crypto: Blockchain researchers say North Korea-linked hackers are likely behind a $70 million theft from crypto exchange CoinEx. CoinEx reported that wallets used to store the exchange's crypto assets had been hacked. (Source: Reuters)

8. Ransomware Gang Hits Nonprofit: Cybercrime crew BianLian claims it has broken into the IT systems of a top nonprofit and stolen a large amount files, including financial, health and medical data. BianLian bragged on its website it had hit an organization that, based on the gang's description of its unnamed victim, looks to be Save The Children International, an organizational that employs about 25,000 people. (Source: The Register)

9. Automotive Security Product Launch: ThreatModeler, a specialist in threat modeling from design to code to cloud, has expanded its Threat Model Marketplace with the introduction of 18 threat models created specifically for the automotive industry. These innovative threat models are designed to transform how the automotive sector approaches security in an increasingly interconnected world.