Cipherpoint Limited [ASX: CPT] (the Company) has announced that Excite IT Pty Ltd, its recently acquired wholly owned subsidiary, has entered into an agreement with Trend Micro Australia Pty Ltd to provide security operations services to support Trend’s managed detection and response service in Australia.
Trend Micro is a global cybersecurity leader that helps make the world safe for exchanging digital information. Fuelled by decades of security expertise, global threat research, and continuous innovation, the Trend cybersecurity platform protects 500,000+ organisations and 250+ million individuals across clouds, networks, devices, and endpoints.
The Trend Micro platform delivers central visibility for better, faster detection and response and a powerful range of advanced threat defence techniques optimised for environments like AWS, Microsoft, and Google. The inclusion of Security Operations Centre as a Service (SOCaaS) will extend its offering to include managed response services. The ability of the Cipherpoint Group to provide a locally owned and operated Security Operations Centre (SOC) satisfied a key requirement for Trend Micro, along with the team’s ability to provide effective triage and response capability to fit into the overall solution.
Trend Micro and Excite IT are in the final stages of deploying and testing the new services, and will be on boarding the first customer during June. Trend’s existing customer base includes over 700 managed enterprise clients who are showing strong interest in SOCaaS, which represents a substantial revenue opportunity for Cipherpoint.
The agreement with Trend Micro is for an initial three-year term (with a right of termination for convenience on notice). Trend Micro will offer SOCaaS to its customer base and will engage Excite IT, on agreed commercial rates, to provide the SOCaaS services subscribed for by its customers. While the Company is not in a position to forecast the value of potential sales, the Board believes the opportunity afforded by the arrangement has the potential to have a material impact on its revenue, particularly considering the access it provides to Trend Micro’s large managed enterprise client base.
Trend Micro Vice President ANZ, Ashley Watkins said: “Trend Micro have experienced massive growth in our security platform, consolidating attack surface management and extended detection and response – revolutionising the way organisations manage cyber risk. Having the ability to provide a local managed SOC capability on top of the platform to incorporate the client’s other security products completes this offering perfectly, making us so excited and confident to be working with Cipherpoint to provide this service.”
For Excite IT working with Trend Micro provides a new line of business in a market it knows well. Cipherpoint CEO Bryan Saba said: “The opportunity to partner with Trend Micro opens up a whole new set of opportunities for the Group. Not only will we help provide the SOC component of their managed services in the region but we will be able to offer a range of other services including advisory and remediation services.”
About Cipherpoint Limited
Cipherpoint, through its wholly owned subsidiaries provides focused managed cyber security, cloud and IT services. Our best of breed security operations centre and highly trained operations teams monitor customer environments to allow quick and effective response to cyber security incidents.
About Trend Micro
Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fuelled by decades of security expertise, global threat research, and continuous innovation, Trend Micro’s cybersecurity platform protects hundreds of thousands of organisations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defence techniques optimised for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organisations to simplify and secure their connected world. www.trendmicro.com.au
For further information, please visit cipherpoint.com
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