by mandiant Cyber security revenue is growing a bit faster than expected, a potential sign that channel partners and customers want to embrace Google Cloud’s pending $5.4 billion purchase of Mandiant.
The pending M&A deal is designed to boost Google Cloud’s security business, the companies said in March 2022. The US Department of Justice is looking at the pending M&A deal, though Google still expects the Mandiant purchase to win regulatory approval by the end of 2022.
Some experts believe that customers may experience Five potential benefits of the M&A deal between Google and Mandiantaccording to SC Media.
Mandiant Security Business Performance, Evolution
Meanwhile, Mandiant’s most recent financial quarter ended March 31, 2022, about three weeks after Google revealed the purchase plan. Mandiant revenue for that quarter was $130 million, up 13% from the first quarter of 2022, and slightly above Wall Street expectationsaccording to SeekingAlpha.
Mandiant did not offer additional comment or context on the earnings, citing the pending M&A deal with Google.
Mandiant’s business has evolved significantly over the last year or so. The company was spun off from FireEye in 2021. From there, Mandiant CEO Kevin Mandia outlined a five-point partner plan in November 2021. As part of the five-point partner plan, the company:
- Created a group of technical alliances to connect Mandiant’s intelligence expertise and platform advantages with other security product companies. Among the first moves is a relationship with Splunk, which enables Splunk customers to put Mandiant threat intelligence to work for adversary detection; interact directly with Mandiant experts for incident response; and validate its security posture against novel and emerging attacks, he said.
- Formed a group of strategic alliances for system integrators and MSSPs. “We plan to enable integrators and MSSPs to use the Mandiant Advantage platform to deliver security modernization and transformation programs for their customers,” he said.
- He created a team of industry-aligned experts to “help us navigate and deliver tailored strategic services to various industry sectors, including finance, healthcare, defense utilities, and more; addressing their specific requirements based on mission, regulation and risk profile,” he said.
- Hired a new leader to create a strategic alliance program targeting partnerships with global governments.
- Hired a new channel leader to create and manage a channel program that efficiently addresses the mid-market.
During that November 2021 earnings call, Mandia also outlined a four-point R&D and innovation strategy. The overall strategy includes the Mandiant Advantage Platform, which is a SaaS-based XDR platform that addresses threat intelligence, security validation, automated defense, and attack surface management.
Google Cloud Security: Business Milestones
Meanwhile, Google Cloud’s security strategy has also evolved over the last year or so.
Before announcing plans to buy Mandiant, Google acquired Siemplify, a security information and event management (SIEM) platform provider, in January 2022. It also invested in Cybereason, an extended detection and response (XDR) software company. , in October 2021.
Fast forward to April 2022, and Google introduced the Chronicle MSSP Partner Program. The move, first anticipated by MSSP Alert in February 2022, counters emerging MSSP partner programs from Amazon Web Services (AWS) and Microsoft.
Next: It’s safe to expect more updates from cloud security partners during the Google Cloud Next Conference 2022which is scheduled for October.
Microsoft and AWS: Rival MSSP Partner Strategies
Meanwhile, Microsoft continues to aggressively expand MISA, the Microsoft Intelligent Security Association. MISA is designed to drive software integrations and interactions between MSSPs and ISVs (Independent Software Vendors) and Microsoft Azure Sentinel for SIEM cloud=based, among other areas of opportunity.
Something similar to MISA, Amazon Web Services (AWS) in August 2021 introduced the Tier 1 MSSP Competency for AWS Partners as it seeks to foster new partnerships with MSSPs and ISVs. AWS Partners can earn this competency to provide AWS security and monitoring as a fully managed service.