Content by Michael Novinson

Corelight Pursues IR Partnerships, Smaller Enterprise Deals

Michael Novinson  •  March 24, 2023

Corelight has cemented partnerships with incident response firms and extended its capabilities from large enterprises to midsized enterprises to further the reach of its technology. Corelight allows its product to be used by CrowdStrike's incident response team during network-based investigations.

US Officials Urged to Examine Chinese Risk to Electric Grid

Michael Novinson  •  March 23, 2023

Utility companies have increasingly refrained from purchasing large power transformers from China given greater awareness of the security risks. Lawmakers sparred with the Energy Department's cybersecurity leader over how much of the electric grid contains components manufactured in China.

Splashtop Buys Foxpass to Bring Enterprise IAM to the Masses

Michael Novinson  •  March 23, 2023

Remote access provider Splashtop has bought server and network access management vendor Foxpass to get better visibility across co-managed and multi-tenant environments. The acquisition of Foxpass will simplify the onboarding experience for developers while ensuring passwords aren't being shared.

Orca Promotes CPO Gil Geron to CEO to Drive Efficient Growth

Michael Novinson  •  March 22, 2023

Orca Security has promoted Chief Product Officer Gil Geron to CEO to help the agentless cloud security vendor maintain its market leadership and rapid growth. The leadership swap at Portland, Oregon-based Orca will result in Avi Shua moving to the newly created position of chief innovation officer.

SVB Parent Company Seeks Bankruptcy Amid Asset Sale Process

Michael Novinson  •  March 17, 2023

The former parent company of Silicon Valley Bank filed for Chapter 11 bankruptcy protection Friday in an effort to streamline the sale of its assets. Silicon Valley Bank itself isn't included in the reorganization filing since the FDIC took over the commercial banking business on March 10.

Microsoft, CrowdStrike Lead Endpoint Protection Gartner MQ

Michael Novinson  •  March 16, 2023

Microsoft and CrowdStrike once again dominate Gartner's Magic Quadrant for Endpoint Protection. Cybereason has risen to the leaders quadrant and Trellix has fallen to a niche player. The endpoint protection market has rapidly matured in recent years - 50% of organizations have already adopted EDR.

Rapid7 Buys Ransomware Prevention Firm Minerva Labs for $38M

Michael Novinson  •  March 15, 2023

Rapid7 has purchased a ransomware prevention vendor founded by a former Israel Defense Forces captain to strengthen its managed detection and response muscle. The Minerva Labs purchase will allow Rapid7 to deliver advanced ransomware prevention across cloud resources and traditional infrastructure.

MKS Instruments Ransomware Attack Results in $200M Sales Hit

Michael Novinson  •  March 15, 2023

MKS Instruments expects a $200 million revenue hit from February's ransomware attack after the hack removed the company's ability to process orders or ship products. The Feb. 3 ransomware attack required the company to temporarily suspend operations at some MKS Instruments facilities.

SentinelOne CEO: Cloud Security May Be Bigger Than Endpoint

Michael Novinson  •  March 14, 2023

SentinelOne has partnered with Wiz and revamped its pipeline generation efforts to capitalize on growing demand for cloud protection, said CEO Tomer Weingarten. By using a simple deployment process and eschewing kernels and agents, the company has prompted customers to switch to Singularity Cloud.

SVB Dominoes Fall: HSBC Buys UK Arm; Feds Grab Canadian Arm

Michael Novinson  •  March 13, 2023

Europe's largest bank, HSBC, agreed on Monday to buy the United Kingdom subsidiary of Silicon Valley Bank, and Canada's government took control of SVB's Canadian branch late Sunday. Regulators have stepped in to reassure depositors, and at least two other regional banks are facing liquidity issues.

Feds Will Make SVB Depositors Whole, Avoiding Payroll Crisis

Michael Novinson  •  March 12, 2023

Silicon Valley Bank's sudden and unexpected demise left numerous cybersecurity startups facing insolvency. But their crisis has been averted: U.S. government officials announced that beginning Monday, insured and uninsured Silicon Valley Bank depositors will have access to all of their money.

SVB Collapse Is 'Self-Inflicted Gunshot Wound' for Startups

Michael Novinson  •  March 10, 2023

One top venture capitalist says the second-largest bank failure in U.S. history will make it harder for security startups to get loans and credit lines. For decades, SVB was one of the few institutions willing to extend money to early-stage firms that got the cold shoulder from traditional banks.

SPAC Woes Continue With Hub Security's Sluggish Nasdaq Debut

Michael Novinson  •  March 9, 2023

The economic downturn has laid bare just how much of a disaster special purpose acquisition companies have been for the cyber industry. Despite this, confidential computing security vendor Hub decided to try its luck with a SPAC. So far, Hub's time on the Nasdaq Stock Exchange hasn't gone well.

E-Sign on the Dotted Line: OneSpan Emerging as an M&A Target

Michael Novinson  •  March 8, 2023

Identity verification and e-signature firm OneSpan is working with investment bank Evercore on a sale process that could attract interest from other businesses and private equity firms, Reuters reported. This follows five publicly traded cyber vendors agreeing to go private since the start of 2022.

CrowdStrike Goes Downmarket With Dell Pact, Small Biz Bundle

Michael Novinson  •  March 7, 2023

CrowdStrike hopes to capture more small and midsized organizations through a new product bundle, revamped e-commerce portal and renewed partnership with Dell. CEO George Kurtz says becoming the exclusive endpoint security partner of PC giant Dell will help CrowdStrike reach small businesses.