Cipherpoint Ltd (ASX:CPT) has signed a strategic Reseller and Managed Services Security Provider Agreement with Israel-based attack-simulation platform provider XM Cyber solutions.
This agreement will enable CPT to offer XM Cyber solutions, which are intended to be offered through its proposed subsidiary Brace168.
XM Cyber’s ability to automate and systemise attack-simulation provides a unique and cost-effective approach to identify and mitigate security risks before they are exploited.
Attack-simulation is now a critical part of Enterprise cyber defences and is rapidly growing to be a billion-dollar market within the much larger cybersecurity market.
“Enable us to increase revenue”
Cipherpoint chairman Ted Pretty said: “The agreement with XM Cyber will mean that Brace168 will have one of the most sophisticated MSSP offerings in the market and XM Cyber will be able to make its advanced functionality to a broader range of enterprises and agencies in the market.
“Brace168 will offer XM Cyber capability as a further layer of service on its cybersecurity platform servicing the financial property, manufacturing, infrastructure, technology and health sectors.
“We expect the offering to enable us to increase revenue per customer and open up new opportunities.”
XM Cyber capability as enhanced service
CPT intends that Brace168 will offer XM Cyber capability as an enhanced service on its cybersecurity platform across the financial property, manufacturing, infrastructure, technology and health sector.
The functionality of the managed detection and response platform of XM Cyber is intended to be deployed widely by Cipherpoint through the Brace168 business.
It represents an opportunity for Brace to market to new clients or extend current offerings to existing clients to generate incremental managed service revenue.
XM Cyber SVP Worldwide Sales and Field Operation’s Uri Levy said: “This partnership with Cipherpoint is an exciting development for XM Cyber to extend its platform through a managed service offering initially in the Australian market then beyond.
“Both parties have already identified some clear opportunities they will actively pursue. We welcome the CPT/Brace168 to the XM Cyber partner network.”
XM Cyber
XM Cyber is the global leader in attack-centric exposure prioritisation that closes gaps in cloud and physical network security.
With the help of XM Cyber customers can rapidly identify and respond to cyber risks affecting their business-sensitive systems because the platform continuously calculates every potential attack path.
XM Cyber was founded by top executives from the Israeli cyber intelligence community and has offices in the US, UK, and Israel.