Bitsight to Expand its Threat Intelligence with Cybersixgill Deal
In a significant move to enhance its threat intelligence capabilities, Bitsight, a leading cyber risk management vendor, has announced its acquisition of Cybersixgill for $115 million. This acquisition marks a pivotal moment in the ongoing trend of mergers and acquisitions within the cybersecurity sector, reflecting the industry’s rapid evolution and the increasing importance of robust threat intelligence.
Based in Boston, Bitsight has established itself as a key player in the cybersecurity landscape, providing organizations with a comprehensive view of their security posture through numerical security ratings. These ratings are derived from an analysis of publicly available data, including threat intelligence feeds, network scans, and public records. By integrating Cybersixgill’s advanced capabilities, which include scouring the dark web and analyzing data from deep web forums, invitation-only messaging groups, and code repositories, Bitsight aims to provide its clients with deeper insights into potential threats.
Cybersixgill, an Israeli startup founded a decade ago, specializes in gathering intelligence from the darkest corners of the internet. Its technology not only identifies emerging threats but also contextualizes them, allowing organizations to respond proactively. This acquisition is expected to bolster Bitsight’s existing platform, enabling clients to better assess and manage their cyber risk while identifying areas for improvement.
AI-Based Attacks Top Gartner’s List of Emerging Threats – Again
As the cybersecurity landscape continues to evolve, artificial intelligence (AI) has emerged as a double-edged sword. According to a recent survey conducted by Gartner, AI-based cyber threats have once again topped the list of emerging risks, with AI-enhanced malicious attacks and AI-assisted misinformation campaigns ranking first and second, respectively. This marks the third consecutive quarter that AI-related threats have dominated the concerns of senior enterprise risk executives.
The rise of AI in cyberattacks is attributed to its ability to create more sophisticated and targeted threats, making it increasingly challenging for organizations to defend against them. The ongoing struggle to find skilled professionals in both AI and cybersecurity further exacerbates this issue, creating a significant opportunity for Managed Security Service Providers (MSSPs) and Managed Service Providers (MSPs). These organizations can offer the necessary expertise and services to help enterprises and small to medium-sized businesses (SMBs) navigate the complexities of AI-driven threats.
Zeus Kerravla, a principal analyst with ZK Research, emphasizes that the demand for cybersecurity services is likely to grow as organizations seek to bolster their defenses against these emerging risks. The ability to leverage AI for both offensive and defensive strategies will be crucial for businesses aiming to stay ahead in the cybersecurity arms race.
Trustwave and Cybereason to Merge in Major MDR Play
In another notable development within the cybersecurity sector, Trustwave and Cybereason have announced their merger, creating a formidable player in the managed detection and response (MDR) market. This merger is driven by the increasing demand for advanced cybersecurity solutions, fueled by the rise of technologies such as AI, cloud computing, and the Internet of Things (IoT), alongside a persistent shortage of cybersecurity talent.
SoftBank, a Japanese multinational company, is the majority investor in this merger, which is expected to close in early 2025. SoftBank has a history of investing in Cybereason, having contributed $200 million in 2019 and an additional $100 million last year. With approximately 1,000 employees, Cybereason has positioned itself as a leader in the MDR space, providing organizations with proactive threat detection and response capabilities.
Trustwave, founded in 1995 and headquartered in Chicago, is recognized as a top Managed Security Service Provider (MSSP) and a leading MDR company, employing around 1,600 individuals. The merger is anticipated to enhance the combined entity’s ability to deliver comprehensive cybersecurity solutions, addressing the growing challenges faced by organizations in an increasingly complex threat landscape.
Conclusion
The cybersecurity landscape is undergoing rapid transformation, driven by technological advancements and an evolving threat environment. The recent acquisition of Cybersixgill by Bitsight, the ongoing concerns surrounding AI-based attacks, and the merger of Trustwave and Cybereason highlight the critical importance of robust threat intelligence and proactive cybersecurity measures. As organizations continue to prioritize cybersecurity in their operations, the demand for innovative solutions and skilled professionals will only increase, shaping the future of the industry.