LogRhythm acquires threat detection platform MistNet

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LogRhythm, a security intelligence company powering security operations centers (SOC), announced that it has acquired MistNet, an analytics platform based on cloud that delivers vast network visibility and accurate threat detection. The acquisition will enable LogRhythm to provide intelligent, machine learning (ML) based detection and response capabilities that allow user and entity behavior analytics (UEBA), endpoint detection and response data (EDR), network detection, and additional MITRE ATT&CK detections to solve current and emerging security and risk problems.

According to Global Traffic Insights, the Network Traffic Analysis (NTA) / Network Detection and Response (NDR) market is worth around $ 1.5B and will grow at 17 percent CAGR between 2020 and 2026. As companies seek to optimize, simplify, and extend their detection and response capabilities, they look to provide more holistic services to vendors, which is fueling the consolidation trend among EDR, NDR, UEBA and security and event management (SIEM) solutions.

“I am thrilled to announce the acquisition of MistNet. Their solution will facilitate our goal of addressing current and emerging endpoint security needs for our global customers and partners,” said Mark Logan, president and CEO of LogRhythm. “MistNet complements our existing SIEM platform by enhancing deep network visibility, behavior analytics and threat detection capabilities and will accelerate LogRhythm’s reach into the XDR market.”

This acquisition provides the ability to collect and enrich tremendous amounts of security data in place, generating exceptionally accurate threat models and behavioral models without transferring any data. MistNet’s patent-pending TensorMist-AI™ technology also brings robust AI capabilities to LogRhythm by building a geo-distributed meshed data pipeline that combines scale-out data management with distributed processing analytics.

This provides enhanced network visibility to improve detection and reduce the response time to advanced persistent threats (APTs) that are commonly capable of bypassing the traditional perimeter defenses. MistNet’s CyberMist product suite is currently used by majority of enterprises across the world.

LogRhythm’s SaaS platform and cloud collection capabilities, combined with MistNet’s distributed analytics, will enable its users to control their compliance and security requirements easily and with the highest return on investment. The network detection and response capabilities of MistNet, along with LogRhythm Labs’ vast library of out-of-the-box compliance and operating technology solutions, and threat detection, permits users to realize value quickly and with minimum effort and required knowledge. MistNet can be used as a standalone solution or in combination with LogRhythm NextGen SIEM Platform.

“We are excited to join a company as committed to innovation and customer success as LogRhythm,” said Geoffrey Mattson, president and CEO of MistNet. “The acquisition creates significant product synergy at the convergence of XDR and SIEM that will positively impact the industry, including the potential for accelerating detection based on open frameworks such as MITRE ATT&CK and driving additional use cases for supply chains, public cloud and IoT/OT security.”

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