Category Archives for "Managed Services News"

Minnesota channel partner Renodis is using M&A to ramp up its competencies in 5G, hospitality and utilities, among other growth areas.

The St. Paul-based telecom and mobility management provider wrapped its fifth acquisition last week in the form of Eric Ryan Corporation. The 20-year-old company’s inorganic growth strategy first started in 2018 but has ramped up in 2022. The agency is planning to announce two more deals by the end of the year.

Renodis’ Craig Beason

“We don’t want to grow faster than we can handle,” Renodis CEO Craig Beason told Channel Futures. “We’ve got our eyes set on getting over $100 million dollars in top line revenue with a healthy EBITA to the bottom, and I think we have a good plan,”

Background

Beason founded the agency in 2002.  At the time he held no telecom experience, other than working in a carrier’s HR division. Nevertheless, Beason said he saw an opportunity to build a telecom service model. As he saw it, business customers would benefit from someone managing their POTS lines from install to end-of-life.

Twenty years ago telecom centered around frame relay, before MPLS came into the picture.

“Telecom’s not a sexy space for enterprise clients. It’s kind of a means to the ends – the janitorial component. I felt at the time that there was a message around building and managing the lifestyle stack of the services,” Beason said. “I felt like enterprises didn’t do a great job with it. Carriers didn’t do a good job supporting it. I thought that the enterprise market would pay to have an expert come in to manage the life cycle, as well as the advisory services that go with that.”

Life Cycle Management

More and more agents brand themselves as holistic providers of technology services. That means expanding beyond vendor sourcing to walking the client through the entire life of the technology. Beason said Renodis was one of the first firms to take this approach.

“I’ve always said that this is where it’s going to go. The customers and the carriers are going to require agents to do more than brokering the services. There’s a lot of value in brokering the services. But unfortunately, as the market and the climate get that much more competitive, you’ve got to be able to offer more value-added services around it,” he said.

However, building such a practice doesn’t occur overnight, Beason said.

“I can build a website overnight and say I do it, but it’s a lot more involved than just working off a spreadsheet. If you’re doing a small client and bill $50,000 a month, maybe you could pull it off. But when you get to the enterprise, they’re looking for just a different level of tool sets and products,” he said.

Beason and his team built the practice from the ground up. He was a newly married young man when he started Renodis. His pregnant wife had recently taken voluntary severance. Cash was scarce. Growth came slowly but surely.

“Every year, every extra dollar went right back into building out products, tools and hiring people to be able to slowly morph into that outsourced model,” he said.

Beason said Renodis spent 2009 to 2013 building its in-house technology to enable itself to fully manage telecom. At the end of that stretch, a CIO approached them about the offering. The CIO wanted to help Renodis make the platform “enterprise-ready.” Moreover, they wanted to become…

As we face into the winds of Q4, M&A activity appears to still be hot, despite whispers of a slowdown. 

Private equity firms and other investors are seeing the value of the channel like never before. Indeed, 2021 was the most active year for M&A in the history of such transactions. 2022 was no exception. 

However, it will be interesting to see what happens as organizations analyze their businesses headed into 2023. Will mergers and acquisitions continue to flourish? Or will providers pump the brakes?

Deals over the last few months have spanned the gamut, from names like Valeo and Magna5 to players such as GoodSuite and GoTo.

Scroll through the images above to see a sampling of the latest mergers and acquisitions and investment deals in the IT/MSP channel in 2022.

Minnesota channel partner Renodis is using M&A to ramp up its competencies in 5G, hospitality and utilities, among other growth areas.

The St. Paul-based telecom and mobility management provider wrapped its fifth acquisition last week in the form of Eric Ryan Corporation. The 20-year-old company’s inorganic growth strategy first started in 2018 but has ramped up in 2022. The agency is planning to announce two more deals by the end of the year.

Renodis’ Craig Beason

“We don’t want to grow faster than we can handle,” Renodis CEO Craig Beason told Channel Futures. “We’ve got our eyes set on getting over $100 million dollars in top line revenue with a healthy EBITA to the bottom, and I think we have a good plan,”

Background

Beason founded the agency in 2002.  At the time he held no telecom experience, other than working in a carrier’s HR division. Nevertheless, Beason said he saw an opportunity to build a telecom service model. As he saw it, business customers would benefit from someone managing their POTS lines from install to end-of-life.

Twenty years ago telecom centered around frame relay, before MPLS came into the picture.

“Telecom’s not a sexy space for enterprise clients. It’s kind of a means to the ends – the janitorial component. I felt at the time that there was a message around building and managing the lifestyle stack of the services,” Beason said. “I felt like enterprises didn’t do a great job with it. Carriers didn’t do a good job supporting it. I thought that the enterprise market would pay to have an expert come in to manage the life cycle, as well as the advisory services that go with that.”

Life Cycle Management

More and more agents brand themselves as holistic providers of technology services. That means expanding beyond vendor sourcing to walking the client through the entire life of the technology. Beason said Renodis was one of the first firms to take this approach.

“I’ve always said that this is where it’s going to go. The customers and the carriers are going to require agents to do more than brokering the services. There’s a lot of value in brokering the services. But unfortunately, as the market and the climate get that much more competitive, you’ve got to be able to offer more value-added services around it,” he said.

However, building such a practice doesn’t occur overnight, Beason said.

“I can build a website overnight and say I do it, but it’s a lot more involved than just working off a spreadsheet. If you’re doing a small client and bill $50,000 a month, maybe you could pull it off. But when you get to the enterprise, they’re looking for just a different level of tool sets and products,” he said.

Beason and his team built the practice from the ground up. He was a newly married young man when he started Renodis. His pregnant wife had recently taken voluntary severance. Cash was scarce. Growth came slowly but surely.

“Every year, every extra dollar went right back into building out products, tools and hiring people to be able to slowly morph into that outsourced model,” he said.

Beason said Renodis spent 2009 to 2013 building its in-house technology to enable itself to fully manage telecom. At the end of that stretch, a CIO approached them about the offering. The CIO wanted to help Renodis make the platform “enterprise-ready.” Moreover, they wanted to become…

As we face into the winds of Q4, M&A activity appears to still be hot, despite whispers of a slowdown. 

Private equity firms and other investors are seeing the value of the channel like never before. Indeed, 2021 was the most active year for M&A in the history of such transactions. 2022 was no exception. 

However, it will be interesting to see what happens as organizations analyze their businesses headed into 2023. Will mergers and acquisitions continue to flourish? Or will providers pump the brakes?

Deals over the last few months have spanned the gamut, from names like Valeo and Magna5 to players such as GoodSuite and GoTo.

Scroll through the images above to see a sampling of the latest mergers and acquisitions and investment deals in the IT/MSP channel in 2022.

Samsung will bring its second-generation, rugged Android phone for frontline workers, the Galaxy XCover6 Pro, to the U.S. next month. The upgraded smartphone is slightly larger than the original XCoverPro. It has a faster processor, and improved connectivity with 5G and Wi-Fi 6 network support.

While Samsung launched the Galaxy XCover6Pro in other markets earlier this year, it’ll arrive in the U.S. on October 20. Samsung has upgraded its rugged tablet with the introduction of the Galaxy Tab Active4 Pro tablet, which is available now. Samsung, for several years, has signaled its intention to market its Galaxy phones and tablets to frontline workers.

Samsung’s Saurabh Shah

Samsung senior B2B product manager Saurabh Shah told media and analysts that the company is bullish about the rugged market. Shah said the rugged device market will reach $6 billion by 2025 at a compounded annual growth rate of 6.7%. Shah argued that Samsung offers a viable alternative to more expensive devices.

“There are consumer-grade devices which are rugged, but only with the case on,” Shah said. “On the other hand, you have more traditional rugged devices which are many times heavier [and] over-engineered. Because of that, they are expensive. We think we are in a unique position.”

Samsung’s Jiin Park

Samsung senior B2B product marketing manager Jiin Park indicated that its partners had played an important role in the company’s entry into the rugged market. “Our partner ecosystem is a huge benefit to businesses,” she said. “Using our partner ecosystem, businesses can integrate apps specific to their industry specs and requirements. And there is the flexibility to customize the solution to meet these unique business needs.”

Samsung introduced its first rugged phone, the Galaxy XCoverPro, in January 2020, just before the pandemic. Officials at the time said Samsung’s inaugural rugged phone is like its consumer Galaxy phones. But Samsung designed the XCoverPro to withstand being dropped or getting wet and added a push-to-talk walkie-talkie feature. Samsung and Microsoft also partnered to integrate Teams with the device’s push-to-talk option.

XCoverPro 6 Specs

Samsung’s Galaxy XCover6 Pro rugged phone

Unlike Samsung’s consumer phones, the company also introduced a replaceable battery in the upgraded XCoverPro 6. The new device is powered by Qualcomm’s Snapdragon 778G processor and comes with more memory, 6GB instead of 4GB. Samsung doubled the internal storage to 128GB (and support for a 1 TB micro-SD Card, versus 512GB). Samsung also boosted the size from 6.3-inches to 6.6-inches. It is IP68, MIL-STD-810H rated.

Samsung also said it would support the phone through four full-version updates of the Android operating system. It will come with Android 12, meaning Samsung will support the device with up to Android 16. Samsung is also offering its Knox mobile device management tool free for the first year.

The Galaxy XCoverPro 6 also now supports Samsung DeX, as does the Galaxy Tab Active4 Pro. Samsung DeX lets users connect their devices to an external display, keyboard and mouse. Samsung also has enabled the new devices to mount into an mPOS docking station for point-of-sale environments.

Samsung hasn’t disclosed pricing, but when the company launched the XCoverPro in 2020, the starting price was $499.

Tab Active4 Pro Tablet

Samsung’s Galaxy Tab Active4 Pro tablet

The Galaxy Tab Active4 Pro supports Sub6 5G and Wi-Fi 6 and has optional Citizens Broadband Radio Service (CBRS) private network capability. Samsung said it offers improved near-field communications (NFC) and the company’s mobile Knox Platform for POS for retail point-of-sale use. That includes Knox Capture for scanning bar codes.

Samsung will support the Tab Active4 Pro through three operating system versions, meaning it will stay in support through Android 15. Powered by a Qualcomm SM73255 CPU and Octa Core processor, the Tab Active4 Pro is MIL-STD 810H rated and can withstand drops of 3 feet. It supports Wireless DeX, compared with the XCoverPro 6, which requires a wired connection. Samsung is also offering five years of security maintenance releases.

It is available now in Wi-Fi only and 5G capable configurations, with a starting price of $699. Versions with 5G support are now available via T-Mobile and Verizon. Samsung said AT&T support would come later this year.

Cybercriminals thrive on chaos and disruption, and the past several years have provided a fertile environment for ransomware attacks. The COVID-19 pandemic, political turmoil and the ongoing war in Ukraine have left many individuals and companies particularly vulnerable to these attacks.

In a recent Threat Spotlight report, Barracuda found that many small companies are struggling with ransomware-related data recovery. While attacks against high-profile organizations make headlines, smaller firms are often targeted, as well, and face a much bigger challenge responding to and recovering from these incidents.

Barracuda found that the volume of ransomware threats detected by its SOC team spiked between January and June 2022, with more than 1.2 million monthly attacks. As a result, companies in every industry, along with critical infrastructure providers, are affected.

The attack against the Los Angeles school district may be the most high-profile and troubling among recent ransomware attacks. Early in September, the district confirmed that it was hit by a cyberattack (launched by a Russian-speaking hacker group called Vice Society) that disrupted access to its IT systems. The total impact on the school has not been made public yet. The Vice Society leak site also listed several other school districts. This is the second time a ransomware attack has hit the LA school district.

The Impact of Ransomware Is Far-Reaching and Costly

But bad actors aren’t just targeting LAUSD. Also in September, the Savannah College of Art and Design (SCAD) in Georgia suffered a ransomware attack, exposing sensitive information about hundreds of students and employees.

In addition to business disruption, financial costs and potential exposure of valuable data, these ransomware attacks can leave companies on the hook for damages in costly lawsuits. For example, Practice Resources LLC, a medical billing company, was attacked in April, a breach that put millions of medical records at risk. Several affected patients have filed a class action lawsuit. The San Francisco 49ers are also the target of a lawsuit after a ransomware attack during the Super Bowl week that compromised the personal data of thousands of ticket holders.

Barracuda found that the dominant targets of these attacks are five key industries: education, municipalities, healthcare, infrastructure and financial. Attacks on educational institutions like the ones mentioned above have doubled over the past year, and attacks on the healthcare and financial verticals have tripled. Infrastructure attacks, meanwhile, have quadrupled, indicating that financial gain or data theft may not be the only motivations behind the attacks.

Service Providers Are a Target

Another finding of the research was that service providers of all types are a notable target of ransomware attacks, accounting for 14% of attacks in the other industries category. This is unsurprising in some ways since these companies offer access to client systems.

Although fewer companies are paying ransoms, and law enforcement agencies are successfully recovering money for some who do pay, attackers continue to make extortion attempts. In addition, while businesses are increasingly aware of these attacks, they have not necessarily put enough security solutions in place. According to Barracuda CTO Fleming Shi:

“I’m also surprised we still see many successful attacks against VPN systems without stronger authentication schemes. The rapid shift to remote work from the pandemic exposed this as an area of weakness for many organizations. So, it makes sense that cybercriminals continue exploiting these vulnerabilities, but businesses have had plenty of time to improve their authentication.”

Typically, credentials are stolen via phishing attacks or bought on the dark web, and attackers target the VPN because of the access it can provide.

Avoiding Ransomware Leads to Better Outcomes

What can companies do? Barracuda recommends solutions that leverage artificial intelligence to respond, as rule-based systems cannot effectively match these rapidly evolving attacks.

Additionally, the following should be considered best practice:

• Disabling macro scripts from MS Office files
• Regular removal of unused or unauthorized apps
• Implementation of network segmentation to reduce ransomware spread
• Deploying enhanced web application and API protection services
• Reinforcing access control to offline and cloud backups

While efforts to avoid or recover ransom payments are helpful, avoiding a successful ransomware attack altogether is a much better outcome for any business – this minimizes business disruption and saves the company additional costs in potential lawsuits if client data is compromised. Following the tips above can help these companies protect their data from ransomware and other attacks. This type of prevention is the only real solution, given how determined the groups behind these attacks are.

Chris Crellin is senior director of product management for Barracuda MSP, a provider of security and data protection solutions for managed services providers, where he is responsible for leading product strategy and management.

This guest blog is part of a Channel Futures sponsorship.

Minnesota channel partner Renodis is using M&A to ramp up its competencies in 5G, hospitality and utilities, among other growth areas.

The St. Paul-based telecom and mobility management provider wrapped its fifth acquisition last week in the form of Eric Ryan Corporation. The 20-year-old company’s inorganic growth strategy first started in 2018 but has ramped up in 2022. The agency is planning to announce two more deals by the end of the year.

Renodis’ Craig Beason

“We don’t want to grow faster than we can handle,” Renodis CEO Craig Beason told Channel Futures. “We’ve got our eyes set on getting over $100 million dollars in top line revenue with a healthy EBITA to the bottom, and I think we have a good plan,”

Background

Beason founded the agency in 2002.  At the time he held no telecom experience, other than working in a carrier’s HR division. Nevertheless, Beason said he saw an opportunity to build a telecom service model. As he saw it, business customers would benefit from someone managing their POTS lines from install to end-of-life.

Twenty years ago telecom centered around frame relay, before MPLS came into the picture.

“Telecom’s not a sexy space for enterprise clients. It’s kind of a means to the ends – the janitorial component. I felt at the time that there was a message around building and managing the lifestyle stack of the services,” Beason said. “I felt like enterprises didn’t do a great job with it. Carriers didn’t do a good job supporting it. I thought that the enterprise market would pay to have an expert come in to manage the life cycle, as well as the advisory services that go with that.”

Life Cycle Management

More and more agents brand themselves as holistic providers of technology services. That means expanding beyond vendor sourcing to walking the client through the entire life of the technology. Beason said Renodis was one of the first firms to take this approach.

“I’ve always said that this is where it’s going to go. The customers and the carriers are going to require agents to do more than brokering the services. There’s a lot of value in brokering the services. But unfortunately, as the market and the climate get that much more competitive, you’ve got to be able to offer more value-added services around it,” he said.

However, building such a practice doesn’t occur overnight, Beason said.

“I can build a website overnight and say I do it, but it’s a lot more involved than just working off a spreadsheet. If you’re doing a small client and bill $50,000 a month, maybe you could pull it off. But when you get to the enterprise, they’re looking for just a different level of tool sets and products,” he said.

Beason and his team built the practice from the ground up. He was a newly married young man when he started Renodis. His pregnant wife had recently taken voluntary severance. Cash was scarce. Growth came slowly but surely.

“Every year, every extra dollar went right back into building out products, tools and hiring people to be able to slowly morph into that outsourced model,” he said.

Beason said Renodis spent 2009 to 2013 building its in-house technology to enable itself to fully manage telecom. At the end of that stretch, a CIO approached them about the offering. The CIO wanted to help Renodis make the platform “enterprise-ready.” Moreover, they wanted to become…

Day 1 of Trellix Xpand Live 2022 unveiled lots of upcoming opportunities for its partners, including a new unified partner program, Trellix Xtend, an expanded extended detection and response (XDR) platform and more.

The company’s first conference is taking place this week in Las Vegas. Trellix Xpand attracted about 1,500 attendees.

Trellix’s Bryan Palma

Bryan Palma is Trellix’s CEO. He said Trellix, which launched in January, is a channel-first organization.

“We don’t want to be in the services business and we won’t,” he said. “Many [cybersecurity companies] are doing that and are taking away from channel. We have over 800 XDR integrations, we announced 10 this week, and then we’ve got some great partners. We couldn’t be more excited about our partners and what we’re going to do.”

Trellix is completely revamping its partner program, Palma said. Trellix has over 5,000 partners, and among its plans for them are a big push with managed detection and response (MDR) providers and MSPs.

Launching in early 2023, Trellix Xtend offers:

• Partner enablement, delivering a training curriculum that supports partners from first-sale to first-install of the Trellix XDR platform.
• Demand creation, using differentiated sales plays to accelerate customer engagement, increase deal registration and build sales pipeline.
• Partner support, providing a premium post-sale experience, including 24/7 support and resources, enabling advisor relationships with Trellix XDR customers.
• Professional services, featuring playbooks enabling partners to build managed services and incident response offerings, leveraging Trellix intellectual property, and applying threat intelligence from Trellix Advanced Research Center.

Trellix Doing Better with Partners than FireEye, McAfee

“Partners are excited,” Palma said. “I think they’re excited about what we’re saying from the top … that we’re a channel-first company and we’re committed, and we’ve rolled out a new program that wasn’t the FireEye program and it wasn’t the McAfee program. I think both of the former organizations didn’t do a good job of that. McAfee did a little bit better job. FireEye had some issues obviously having Mandiant having its own managed service. That was one of the things we really wanted to decouple from because it was a barrier to structure.”

Partners feel like “they can work with us,” he said.

“We have a broad portfolio, they know we’re a market leader,” Palma said. “And hearing that we’re committed to the channel I think has been a refreshing message for them. I think like always, they want to see how the program’s going to work. Are they going to make money? Are we going to stand behind what we said? So it’s a little show me, but I would expect nothing less from our partners.”

Arriving in the fourth quarter of 2022, the upgraded XDR engine provides security operations teams with enhanced playbooks for guided investigations. It also provides upgraded threat intelligence through the integration of McAfee and FireEye assets, and the launch of Trellix Event Fabric. Trellix Event Fabric bridges disparate security data from any cloud provider, allowing security analysts to access and correlate data from anywhere. This combination of machine learning (ML) and automation allows security operations teams to reduce mean time detection and improve mean time to response.

SecOps ‘Revolution’

Palma said a top priority of Trellix is “SecOps revolution.” Security information and event management (SIEM) is outdated with no automation, and customers say it’s too costly and ineffective.

“We will replace SIEM with something better,” he said.

In addition, Trellix is building an enterprise platform and has been working on its XDR for 18 months, Palma said. When it comes to security operations, Trellix is “building from a strong base.”

“We’re excited about where we’re going,” he said. “Nobody else has the assets and experience we have.”

Scroll through our slideshow for more from Day 1 of Trellix Xpand Live.

Oracle NetSuite has announced a series of product updates at SuiteWorld 2022 in Las Vegas.

Evan Goldberg (pictured above, onstage at SuiteWorld), NetSuite founder and executive vice president, took to the stage in front of 5,200 customers and partners at the software vendor’s first in-person event post-pandemic. He outlined several innovations to the software vendor’s road map.

“With an economy in transition, businesses can look to the certainty of data to find new paths to profitability and growth,” said Goldberg. “To help our customers do this, we continue to extend the capabilities of NetSuite. The latest updates span everything from financial management to HR to sales processes. They’re designed to help our customers run their business in a better way and support their growth journeys.”

First up is a new AP (accounts payable) automation solution to increase the accuracy and speed of processing bills and making payments. Its aim is to grow sales, deliver a seamless buying experience for customers, improve the efficiency of warehouse operations, and adapt staffing to changing business needs.

There is also a new CPQ (configure, price, quote) solution to accelerate and simplify the sales process. The solution is designed to help customers’ sales teams to quickly configure, price, and quote complex products more accurately.

Goldberg also unveiled a new workforce management solution that can streamline scheduling, time tracking and wage calculations. NetSuite Ship Central helps customers optimize fulfillment operations, eliminate manual processes and accelerate deliveries. It does this by allowing warehouse workers to do packing and shipping on a mobile or kiosk device.

Elsewhere, there is a new shipping solution to make warehouse operations more efficient. NetSuite SuitePeople Workforce Management simplifies and automates routine tasks such as shift scheduling, employee time tracking, and calculating wages. It can also provide recommendations on optimising staff scheduling.

In addition, NetSuite has introduced new automation and analytics. These are designed to enhance the financial, inventory management, manufacturing, and project management functionality within NetSuite.

New enhancements to NetSuite Analytics Warehouse enable customers to simplify data management, accelerate time to insights, and provide access to more pre-built third-party data integrations and industry-specific content. NetSuite Analytics Warehouse is also now available to customers in Australia and the U.K.

Day 1 of Trellix Xpand Live 2022 unveiled lots of upcoming opportunities for its partners, including a new unified partner program, Trellix Xtend, an expanded extended detection and response (XDR) platform and more.

The company’s first conference is taking place this week in Las Vegas. Trellix Xpand attracted about 1,500 attendees.

Trellix’s Bryan Palma

Bryan Palma is Trellix’s CEO. He said Trellix, which launched in January, is a channel-first organization.

“We don’t want to be in the services business and we won’t,” he said. “Many [cybersecurity companies] are doing that and are taking away from channel. We have over 800 XDR integrations, we announced 10 this week, and then we’ve got some great partners. We couldn’t be more excited about our partners and what we’re going to do.”

Trellix is completely revamping its partner program, Palma said. Trellix has over 5,000 partners, and among its plans for them are a big push with managed detection and response (MDR) providers and MSPs.

Launching in early 2023, Trellix Xtend offers:

• Partner enablement, delivering a training curriculum that supports partners from first-sale to first-install of the Trellix XDR platform.
• Demand creation, using differentiated sales plays to accelerate customer engagement, increase deal registration and build sales pipeline.
• Partner support, providing a premium post-sale experience, including 24/7 support and resources, enabling advisor relationships with Trellix XDR customers.
• Professional services, featuring playbooks enabling partners to build managed services and incident response offerings, leveraging Trellix intellectual property, and applying threat intelligence from Trellix Advanced Research Center.

Trellix Doing Better with Partners than FireEye, McAfee

“Partners are excited,” Palma said. “I think they’re excited about what we’re saying from the top … that we’re a channel-first company and we’re committed, and we’ve rolled out a new program that wasn’t the FireEye program and it wasn’t the McAfee program. I think both of the former organizations didn’t do a good job of that. McAfee did a little bit better job. FireEye had some issues obviously having Mandiant having its own managed service. That was one of the things we really wanted to decouple from because it was a barrier to structure.”

Partners feel like “they can work with us,” he said.

“We have a broad portfolio, they know we’re a market leader,” Palma said. “And hearing that we’re committed to the channel I think has been a refreshing message for them. I think like always, they want to see how the program’s going to work. Are they going to make money? Are we going to stand behind what we said? So it’s a little show me, but I would expect nothing less from our partners.”

Arriving in the fourth quarter of 2022, the upgraded XDR engine provides security operations teams with enhanced playbooks for guided investigations. It also provides upgraded threat intelligence through the integration of McAfee and FireEye assets, and the launch of Trellix Event Fabric. Trellix Event Fabric bridges disparate security data from any cloud provider, allowing security analysts to access and correlate data from anywhere. This combination of machine learning (ML) and automation allows security operations teams to reduce mean time detection and improve mean time to response.

SecOps ‘Revolution’

Palma said a top priority of Trellix is “SecOps revolution.” Security information and event management (SIEM) is outdated with no automation, and customers say it’s too costly and ineffective.

“We will replace SIEM with something better,” he said.

In addition, Trellix is building an enterprise platform and has been working on its XDR for 18 months, Palma said. When it comes to security operations, Trellix is “building from a strong base.”

“We’re excited about where we’re going,” he said. “Nobody else has the assets and experience we have.”

Scroll through our slideshow for more from Day 1 of Trellix Xpand Live.