Netsurion and EventTracker are merging, the two managed security service providers (MSSPs) confirmed today. Providence Equity Partners, a private equity firm, has purchased a stake in the combined company. Financial terms were not disclosed.
Netsurion specializes in managed network security, Wi-Fi and PCI compliance monitoring for merchants of any size. EventTracker focuses on remote managed SIEM (security information and event management) capabilities.
Netsurion and EventTracker will continue to operate as distinct brands and deliver their products and services in the same manners they have historically, the companies said. Kevin Watson, CEO of Netsurion, will serve as CEO of the parent organization, and A.N. Ananth, CEO of EventTracker, will continue in his current role, the companies added.
Together the companies will target small and multi-location businesses that don't have in-house security expertise. The overall solution set will include managed network security services and managed SIEM solutions.
EventTracker has offices in Columbia, Maryland and Bangalore, India, and Netsurion is headquartered in Ft. Lauderdale, Florida, with offices in Houston and St. Louis.
Rise of MSSPs and Security Operations Centers
The business combination reinforces growing demand for managed security services -- an area that's attracting considerable MSP attention. Two key examples:
- Continuum, for instance, is expanding beyond its MSP-focused NOC (network operations center) to introduce SOC (security operations center) services later this year or in 2017. CEO Michael George briefly mentioned some of the SOC plans during the company's Navigate 2016 conference in September.
- MyTech Partners, a leading MSP headquartered in Minneapolis, Minnesota, is exploring an MSSP extension to its business, President Lyf Wildenberg said during HTG Peer Groups' recent IT Channel Summit.
Still, the MSSP market isn't for the faint of heart. MSSPs that leverage SIEM platforms must have multiple areas of expertise -- including security analytics, network and host security monitoring, threat intelligence integration, an application platform architecture and an incident response control center, according to ESG, a consulting firm.
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