MARKET MOVEMENT
LogRhythm acquires threat detection platform , MistNet
LogRhythm , a company powering security operations centres ( SOCs ), has announced it has acquired MistNet , a cloud-based analytics platform that delivers vast network visibility and accurate threat detection . The acquisition will allow LogRhythm to deliver intelligent , Machine Learning-based detection and response capabilities that incorporate network detection , user and entity behaviour analytics ( UEBA ), endpoint detection and response data ( EDR ) and additional MITRE ATT & CK detections to solve current and emerging security and risk problems .
The Network Traffic Analysis ( NTA )/ Network Detection and Response ( NDR ) market is approximately US $ 1.5 billion and will grow at 17 % compound annual growth rate between 2020 and 2026 , according to Global Market Insights . As organisations seek to simplify , optimise and extend their detection and response capabilities , they look to vendors to provide more holistic services , which is fuelling the consolidation trend among NDR , EDR , UEBA and security and event management ( SIEM ) solutions .
“ I am thrilled to announce the acquisition of MistNet . Its solution will facilitate our goal of addressing current and emerging endpoint security needs for our global customers and partners ,” said Mark Logan , President and CEO of LogRhythm . “ MistNet complements our existing SIEM platform by enhancing deep network visibility , behaviour analytics and threat detection capabilities and will accelerate LogRhythm ’ s reach into the XDR market .”
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Francisco Partners completes acquisition of Forcepoint
Francisco Partners , a leading global investment firm that specialises in partnering with technology and technologyenabled businesses , has announced it has closed on the previously announced acquisition of Forcepoint from Raytheon Technologies . Forcepoint is a leading provider of cybersecurity solutions that protects the critical data and networks of thousands of customers throughout the world .
Coinciding with the transaction close , the company ’ s board of directors has appointed Manny Rivelo as Chief Executive Officer ( CEO ), effective immediately . As CEO , Rivelo will focus the company ’ s strategy on accelerating enterprise and government agency adoption of a modern approach to security that embraces the emerging Secure Access Service Edge ( SASE ) architecture . Forcepoint ’ s SASE approach recognises that solving today ’ s most pressing security problems requires tight integration of capabilities that cross traditional product boundaries . It is cloud-native , end-user aware and powered by a converged security platform , and available through Forcepoint Cloud Security Gateway and Private Access .
“ Cybersecurity has never been more important for businesses and governments around the world . As we continue to see broad-scale global attacks , the cybersecurity industry needs to evolve to deliver security capabilities to match those of today ’ s sophisticated threat actors . Likewise , every organisation today needs to evolve its security posture to holistically integrate cybersecurity across the entirety of its business operations and culture . It can no longer be viewed as ‘ just an IT issue ’,” said Rivelo . “ I look forward to solidifying Forcepoint ’ s leadership position as the global cybersecurity partner of choice for enterprises and government agencies .” •
INTELLIGENT TECH CHANNELS
INTELLIGENT TECH CHANNELS Issue 37
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