MSP, MSSP & IT Industry Notes for November 15th, 2020

November 15th, 2020

MSP, MSSP and IT Industry Notes

Sponsored by

Arcoa Group

Why partnering with ARCOA makes sense
Electronics Recycling is an important and profitable part of the IT asset lifecycle, but it can be overwhelming with all you already do, varying state regulations, and the limited resources at hand. That’s where ARCOA comes in. When you partner with ARCOA, you get all the benefits of a big company without any of the capital investment. We’ve been doing this since 1989 and have the expertise, certifications, and nationwide resources to get the most for all your clients’ retired IT assets. Plus, positioning your clients as environmental stewards not only elevates their appeal to consumers, it meets government requirements and avoids fines.

What partnering with ARCOA looks like
Our role is to make it easy for you to bring more value to your clients. We work with you to help stretch your clients’ IT budget by reducing the total cost of ownership of their electronics. We’re experts at identifying and implementing the solutions your clients need for the end-of-use remarketing, recovery, and recycling of their technology assets. The sooner you involve ARCOA, the sooner you and your clients will see better results.

Executech Announces Acquisition of USPCNET, Phoenix-Based MSP

• Executech, announced the acquisition of USPCNET, a full-service IT support provider serving the larger Phoenix, Arizona
• USPCNET employees will join the Executech team to expand the company’s footprint into the Phoenix area
• This acquisition is the fourth acquisition by Executech in the past 12 months
• Executech ( executech.com ) is an IT services provider. Founded in 1999

CyberMaxx™ Named to MSSP Alert's Top 250 MSSPs List for 2020

• MSSP Alert, published by After Nines Inc., has named CyberMaxx to the Top 250 MSSPs list for 2020
• The list and research identify and honor the top MSSPs, managed detection and response (MDR) and Security Operations Center as a Service (SOCaaS) providers worldwide
• Rankings are based on MSSP Alert’s 2020 readership survey combined with the digital media site’s global editorial coverage of managed security services providers
• Highlights from the associated MSSP Alert research include:
• MSSP Revenue Growth: MSSP honorees, on average, expect to generate $19.15 million in revenue for 2020, up 16% from $16.47 million in 2019.
• Geography: Honorees are headquartered in 25 different countries -- up from 19 countries in the 2019 report.
• Profits: 84% of MSSPs surveyed expect to be profitable for fiscal year 2020.
• Security Operations Centers: 67% have in-house SOCs, 24% are hybrid, 6% completely outsource their SOCs, and 3% are reevaluating their SOC strategies.
• Cyberattack Trends: The most frequent attacks targeting MSSP customers in 2020 include phishing (95%), vulnerability (76%) and ransomware (69%) attacks.
• Cybersecurity Solutions: In a continued sign of market fragmentation, MSSP survey participants mentioned 129 different hardware, software, cloud, and services vendors that assist their cybersecurity efforts -- up from 95 in 2019.
  • M&A: Mergers, acquisitions and private equity investments continue to accelerate across the MSSP landscape. Twenty high-profile deals

CyberSheath Recognized Among CIO Review's "Most Promising" and "Most Outstanding"

• CyberSheath Services International has been awarded two CIO Review recognitions
• "Most Promising CyberSecurity Consulting & Service for 2020" and "Most Outstanding CMMC MSSP for 2020”
• CIO Review produces an annual list of providers that are at the forefront of providing consulting, services, compliance, and risk solutions to enterprises worldwide
• CyberSheath, a third-party managed service provider, simplifies compliance for its clients in three stages: assess, implement, manage -- AIM™

Palo Alto Networks Acquires Expanse for Attack Surface Management

• Reported on ZDnet.com
• Announced on Wednesday, Palo Alto said the purchase will be used to bolster the Cortex portfolio with Expanse's attack surface management solutions
• The deal was secured for $670 million in cash and stock, as well as roughly $130 million in replacement equity awards

ConnectWise Acquires Perch Security and StratoZen, Two Cybersecurity Firms Focused on MSP ...

• ConnectWise, today announced it has acquired Perch Security and StratoZen
• As part of the ConnectWise Fortify^™ security management solution, these technologies will provide revolutionary data management capabilities both as a service and as core technology in the ConnectWise Fortify SOC
• Perch provides the only MSP-designed SIEM in the industry
• StratoZen’s advanced automation and data analysis capabilities will take the data gathered from the Perch SIEM and turn it into actionable insights

FluidOne acquires IT managed services provider PSU

• Reported on telecompaper.com
• UK network aggregator FluidOne has announced the acquisition of PSU Business Technology
• PSU Business Technology, providers IT managed services, connectivity, mobile, telecoms and Mitel UC services to business customers
• PSU has revenue of GBP 6 million and more than 450 customers

GCOM Announces Acquisition of 20/20 Teknology

• GCOM, a provider of technology solutions focused on state and local governments, today announced the acquisition of 20/20 Teknology
• cquisition combines 20/20 Teknology’s expertise in unified and virtual communications, IT infrastructure, and managed services with GCOM’s government IT offerings
• 20/20 Teknology team will continue to work out of their Ashburn, Virginia office
• GCOM delivers solutions to state and local governments nationwide, with a focus on systems in health and human services, justice and public safety, licensing and regulatory markets
• 20/20 Teknology is a solutions engineering company dedicated to helping organizations secure and optimize their IT infrastructure

Sharp ships new large LCD display

• Sharp, a division of Hon Hai Precision of Taiwan (aka Foxconn) launched its new 120′′ class (diagonal) 8M-B120C 8K Ultra-HD Professional LCD display
• “unparalleled lifelike image detail and quality, for brighter, livelier big-screen images.”
• 33 million pixels, four times more than a 4K panel
• optimized LED back-light phosphors
• provides continuous operation for up to 16 hours a day
• embedded with 70-watt, multi-speaker audio system
• connection via a single HDMI cable
• LAN port that allows customers to connect the monitor to a PC
• can also connect to four PCs via video cables to show content on one large screen
• comes bundled with a floor stand and wall-mounting brackets
• pricing not announced

AEP Names Three New Leaders To Information Technology Organization

• American Electric Power (Nasdaq: AEP) has added three new leaders to its information technology group
• Joe Brenner vice president of Application Development & Business Solutions, effective Nov. 2. Sanjay Terakanambi has been named vice president of Technology Infrastructure, Operations & Support and Christopher D. Johnson has been named managing director of Enterprise Innovation & Technology, effective Nov. 9
• All three positions report to Therace Risch, senior vice president and chief information & technology officer

Hub Security partners with leading Swiss cybersecurity firm to provide Cryptographic Hardware

• Hub Security, the Tel Aviv based cybersecurity firm announced today its partnership with Kudelski Security
• Hub Security will be able to extend Kudelski Security's highly specialized combination of cybersecurity products and industry-leading security solutions to the market
• Hub Security utilizes military-grade cybersecurity principles for its Vault HSM (Hardware Security Module), and handheld miniHSM device with FIPS approved cryptographic algorithm validation as well as an architecture that is designed for FIPS140-2 Level 4 (pending)
• Kudelski Security is a provider of intelligent, tailored cybersecurity solutions

CyberSecurity

• WeWork revealed that an employee discovered that if users entered “9999” on the network, they could print out other people’s jobs, whilethinkarcoa.com using free office WiFi account. This has since been corrected.
• The FBI is reporting that a Eastern European hacking group named “UNC1878” aks Wizard Spider, is using Ryuk ransomware to target hospitals in the U.S.NBC *News is reporting that 20 hospitals have been struck so far.
• Wakefern Food Corp., headquartered in Keasbey, NJ, owner of ShopRite supermarkets, agreed to pay $235,000 to the State of New Jersey, to settle HIPAA and NJ Consumer Fraud violations as a result of a breach that exposed PHI of pharmacy department customers.
• Abbott Laboratories Corp., headquartered in Chicago, IL, filed a lawsuit against former employee, Jerome Cavel, accusing him of stealing confidential info and trade secrets.
• Mary Rutan Hospital of Bellefontaine, Ohio, notified an unknown number of patients that their PHI was exposed after it was inadvertently posted in Excel spreadsheet in publicly accessible website.
• Sisters of Charity Health System, headquartered in Cleveland, OH, hotified 118,874 patients that their PHI was exposed after cyber attack.
• Presbyterian Health, headquartered in Albuquerque, NM, notified 193,223 patients that their PHI was exposed after cyber incident.
• Microsoft is reporting that over 100,000 computers remain affected by the Windows vulnerability known as SMBGhost, even though a patch is available.
• The Maze ransomware gang sent out announcement that it is shutting down its operations. (group started in 2019, so has it collected enough ransom from customers that perpetrators can now retire?)
• Coveware Security reports that in most cases, even if customer pays the hacker the ransom, the hacker still publishes the data on Dark Web to monetize. Other reports:
  o Average ransom paid up 31% to $233,817
  o 70% of ransomware victims have less than 1,000 employees
  o Average days of downtime up 19% to 19 days
• River Hospital of Alexandria, New York notified an unknown number of patients that their PHI was exposed after ransomware attack.
• The Alamance Skin Center of Burlington, North Carolina, part of the Cone Health system, notified an unknown number of patients that their PHI was exposed after ransomware attack.
• The Geo Group, headquartered in Boca Raton, Florida, which operates private prisons and detention centers around the U.S., notified an unknown number of prisoners that their PHI was exposed after ransomware attack.

• Club Fitness, headquartered in St. Louis, Missouri, notified an unknown number of members that their info was exposed after ransomware attack.
  - Riverside Psychiatric Medical Group of California agreed to pay HIPAA fine of $25,000 after withholding a woman’s PHI for 20 months
• HP reports a 1200% increase during Q3 of Emotet malware attacks in the U.S.
  o Can convince users to run a malicious Microsoft Word document emailed to them
• The University of Vermont Health Network called on the National Guard to assist their IT team recover from a ransomware attack.
• Check Point Security is reporting that one hacking group has compromised the VoIP networks of almost 1, 200 organizations.
• California voters approved the California Privacy Right Act (CPRA)
  o Increased rights of citizens to know what kind of data bsuinesses have on them
  o Restricts sale of data
  o Forces businesses to correct inaccurate info
  o Prohibits businesses’ retention of personal info for longer then reasonably necessary
  o Triples the maximum penalties for violations involving people under 16