Cloud security provider Wiz has acquired unified security remediation and application surface posture management company Dazz in a deal worth $450 million.
Wiz plans to integrate Dazz’s capabilities into its own platform, extending its offering to include smart risk prioritization and remediation – pieces of the puzzle that were missing or not as robust in its own capabilities. But the company also said that Dazz will operate as a separate entity as it is integrated into Wiz’s stack, according to a TechCrunch report.
The two companies have shared some investors including Greylock Partners, Cyberstarts and Insight Partners.
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Today’s MSSP Update
1. Microsoft teases remote recovery tool – At Microsoft Ignite last week the software giant previewed a new Quick Machine Recovery tool designed to help organizations remotely rebuild computer systems. The development follows the CrowdStrike outage earlier this year which crippled organizations and challenged IT and MSPs because they could not remediate the issues remotely. (Source: SecurityWeek)
2. The cost of cyberattacks – A new report from insurance broker Howden shows cyberattacks have cost British businesses the equivalent of $55 billion in lost revenue over the past five years with 52% of private sector companies reporting at least one attack in that time, according to a Reuters report.
3. MSSP quarterly earnings - MSSP High Wire Networks increased revenue from continuing operations by 4% in Q3. The company reports that the increases were primarily due to growth of its Overwatch managed cybersecurity business. High Wire reported a net loss from continuing operations of $1.7 million for Q3, a 56% improvement from its net loss a year ago. In addition, High Wire reported a 21% decrease in operating expenses for the quarter compared to the year-ago quarter.
4. Another new member for MISA - Security services provider Cyderes has joined the Microsoft Intelligent Security Association (MISA), an ecosystem of security partners that have integrated their solutions with Microsoft.
5. Ransomware spike in October - NCC Group reports an increase in ransomware attacks as geopolitics continues to influence activity. Total cases of ransomware in October were 19% higher month-on-month. Ransomhub maintained its top spot, responsible for 14% of attacks by the top 10 threat actors. Industrials remain the most targeted sector accounting for 30% of attacks.
