Cisco to Acquire SnapAttack for Threat Detection: MSSP Market Update
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Today in the world of cybersecurity, Cisco has announced its plans to acquire SnapAttack, a threat detection and engineering platform company based in Arlington, Virginia. This move is aimed at enhancing Cisco’s capabilities in threat detection and engineering, specifically to bolster its existing acquisition, Splunk.
SnapAttack’s innovative technology and expertise will play a vital role in accelerating Cisco’s organic threat detection content and engineering roadmap. By integrating SnapAttack’s solution, security analysts will have the ability to continuously assess, organize, and optimize their security content. This development underscores Cisco’s commitment to staying at the forefront of providing robust cybersecurity solutions.
With 26 employees, SnapAttack brings a dedicated team of experts to the table, further solidifying Cisco’s position in the cybersecurity landscape.
In other news, MSSP Alert has released its inaugural Pricing Benchmark Report for MSSPs. This report offers valuable insights to help cybersecurity service providers evaluate and refine their own pricing strategies. Additionally, SandBoxAQ has secured a significant $300 million in new funding commitments, emphasizing the growing importance of advanced technology in cybersecurity.
As the cybersecurity landscape continues to evolve, governance questions surrounding AI and data usage are becoming more prevalent. It’s important to address issues such as intellectual property rights and data ownership as companies engage in AI projects.
In recent developments, top U.S. carriers AT&T and Verizon were targeted by the Salt Typhoon cyberespionage operation. However, both companies have since secured their networks and are collaborating with law enforcement and government agencies to address the situation.
Looking ahead, the cybersecurity insurance market is expected to reach $14.54 billion by 2023, with a projected compound annual growth rate of 11.74% from 2023 to 2033. These figures highlight the increasing awareness of the importance of cybersecurity insurance in mitigating risks in the digital age.
Stay tuned for more updates on the ever-evolving cybersecurity landscape.
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