Managed Security Services Provider (MSSP) Market News: 24 January 2023

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

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

1.Industry Certification Achieved: BlackBerry announced that it is the first business in the Americas to gain the OpenChain Security Assurance Specification, a best-in-class validation of the company's ability to manage open-source vulnerabilities and risks as part of its software supply chain. (Source: Seeking Alpha)

2. Cybersecurity Study: Only half (49%) of organizations have sufficient budget to fully meet their current cybersecurity needs, and 11% can, at best, protect only their most critical assets, according to a survey by the Neustar International Security Council (NISC). One-third (35%) of IT and security professionals said their organization’s cybersecurity budget would remain the same or decrease in 2023, and 44% believe their business will be more exposed and at risk as a result.

3. Torq Revs Up Business: Torq, a security automation specialist, announced 800% revenue growth and 10-times customer growth in its second year of operation in 2022, and hitting the milestone of 1,000,000-plus daily security automations. Torq received accolades during 2022, including being named to Forbes Israel’s Next Billion Dollar Startups list and recognized as Global InfoSec Cybersecurity’s Startup of the Year.

4. Support for US Cyber Games: Leidos has been named a platinum sponsor of the Season II US Cyber Games & Team. Leidos is supporting the mission of the US Cyber Games to bring together talented athletes, coaches and industry leaders to build a team for global cybersecurity competition.

5. Cyber Business Rebrands: Credence Security, with sister companies Cyber Security South Africa and Cyber Security Africa Distribution, announced an extensive rebranding that will see the three firms consolidated as TRINEXIA. The rebranding represents Credence Security's accelerated growth and reflects the company's focus on providing a comprehensive and integrated approach to cybersecurity distribution.

6. Cybersecurity Award Received: Data Theorem, a provider of modern application security, announced that its Supply Chain Secure solution won the 2022 CyberSecured Award in the Attack Surface Management awards category from 1105 Media’s Security Today brand.

7. Ukraine Strengthens Cybersecurity Relationships: Ukraine has deepened its ties to NATO by signing an agreement to formalize its participation in the security alliance's Joint Center for Advanced Technologies in Cyber Defense (CCDCOE). The CCDCOE functions as a cyber-defense knowledge hub, research institution and training and exercise facility that assists members with technology, threat-sharing and policy expertise. (Source: The Register)

8. Senator's Campaign Funds Heisted: The FBI is investigating allegations that cyber criminals stole nearly $700,000 from U.S. Senator Jerry Moran’s campaign, according to a letter the campaign sent to the Federal Elections Committee. On December 8, 2022, Moran campaign treasurer Timothy Gottschalk reported “fraudulent activity by a third-party cyber-criminal” that was included in the campaign’s finance disclosures. (Source: KZRG)

9. Cybersecurity Partnership: ShardSecure, a provider of cloud data security and resilience software, has formed a new alliance with KPMG LLP in the U.S. KPMG, which offers a cybersecurity consulting practice, will bundle ShardSecure's Microshard solution with cloud security service offerings.

10. Product Launch: Skyhawk Security has released of its Synthesis Security Platform. The platform provides unique cloud threat detection and response (CDR) capabilities across multi-cloud environments.

B. Annual In-Person MSSP and Cybersecurity Conferences