Ted Pretty (Cipherpoint)
Cipherpoint is ramping up its managed security service offerings for the small- to medium-sized businesses (SMB) and local government sectors as it plans to launch a new security operations centre (SOC).
The publicly listed cyber security provider told shareholders it is in the "advanced stages" of planning its second security operations centre which will be based in Tasmania.
According to Cipherpoint, the centre will service Tasmanian government and business customers, while supporting other solutions across Australia.
The move comes as Cipherpoint plans to launch a new managed cyber security service for SMBs. For this, the company will tap into its Brace168 subsidiary's existing SMB clients, which use Cipherpoint’s security and managed desktop services.
Brace168, which was acquired by Cipherpoint in January 2021 for $4.2 million, gave the company its first SOC, which is based in Sydney.
The company told shareholders that it would focus on an automated solution to reduce attack surface and manage detect and respond to threats, including hacking, phishing, identity theft, denial of service and other scams.
It also plans to meet the requirements of the federal government’s Australian Cyber Security Centre’s Essential 8 cyber security model and “other relevant standards”.
In tandem with this, Cipherpoint will also now offer a managed security service for local governments, with the vendor planning to enable local and regional councils access to “common cyber services” without the need to hire their own employees.
This initiative builds on work by its subsidiary VIT Cyber Security in Tasmania, which has provided user awareness training for an unspecified number of local councils in the state.
Cipherpoint added this will complement its existing enterprise managed security services.
Both these offerings have been brought forward following various announcements made in the federal government’s 2022-23 Budget on 28 March.
The SMB offering is designed to make use of accelerated tax deductions for increased training, with $1.6 billion set aside for tax relief for small businesses to go digital and upskill staff as part of the government’s ‘Technology Investment Boost’.
Meanwhile, both of the new services tap into the dialogue around the federal government's landmark $9.9 billion investment over the next decade for new national cyber and intelligence capabilities under REDSPICE -- Resilience, Effects, Defence, Space, Intelligence, Cyber and Enablers.
“As a small agile and growing player in this sensitive sector Cipherpoint is well placed to move quickly to take advantage of these market opportunities,” the vendor’s chairman, Ted Pretty, added.
