Acquisition expands LogRhythm’s reach in the threat detection space and accelerates XDR market entry with deep visibility into network traffic and potential threats
BOULDER, Colo.–(BUSINESS WIRE)–LogRhythm, the company powering today’s security operations centers (SOCs), announced today it has acquired MistNet, a cloud-based analytics platform that delivers vast network visibility and accurate threat detection. The acquisition will allow LogRhythm to deliver intelligent, machine learning-based detection and response capabilities that incorporate network detection, user and entity behavior analytics (UEBA), endpoint detection and response data (EDR), and additional MITRE ATT&CK detections to solve current and emerging security and risk problems.
The Network Traffic Analysis (NTA)/Network Detection and Response (NDR) market is approximately $1.5B and will grow at 17 percent CAGR between 2020 and 2026, according to Global Market Insights. As organizations seek to simplify, optimize and extend their detection and response capabilities, they look to vendors to provide more holistic services, which is fueling the consolidation trend among NDR, EDR, 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.”
The acquisition delivers the ability to collect and enrich tremendous amounts of security data ‘on location,’ generating exceptionally accurate behavioral models and threat models without having to move any of the data. MistNet’s patent-pending TensorMist-AI™ technology also brings powerful AI capabilities to LogRhythm by constructing a geo-distributed meshed data pipeline that combines scale-out data management with distributed processing analytics. This provides improved network visibility to increase detection and reduce the time to respond to advanced persistent threats (APTs) that are commonly able to bypass traditional perimeter defenses. MistNet’s CyberMist product suite is currently used by large enterprises worldwide.
LogRhythm’s comprehensive SaaS platform and cloud collection capabilities, combined with MistNet’s distributed analytics, will empower customers to manage their security and compliance needs easily and with the highest return on investment. MistNet’s network detection and response capabilities, along with LogRhythm Labs’ vast library of out-of-the-box threat detection, compliance and operating technology solutions, enables customers to realize value quickly and with minimal effort and required knowledge. Customers can deploy MistNet as a standalone solution or in combination with the 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.”
The terms of the deal were not disclosed. To learn more about LogRhythm’s security solutions and to schedule a demo, please visit: https://logrhythm.com/request-more-information/.
MistNet was founded in 2016 with the simple mission of making the connected world a safer place. MistNet focuses on securing complex enterprise environments by developing disruptive technology using cloud-based distributed AI and mist computing technology to dramatically improve threat detection and significantly reduce false positives. MistNet is deployed at scale in customers worldwide. To learn more, please visit https://www.mistnet.ai.
LogRhythm’s award-winning NextGen SIEM Platform delivers comprehensive security analytics; user and entity behavior analytics (UEBA); network detection and response (NDR); and security orchestration, automation, and response (SOAR) within a single, integrated platform for rapid detection, response, and neutralization of threats. Built by security professionals for security professionals, LogRhythm enables security professionals at leading organizations NASA, Xcel Energy, and Temple University to promote visibility for their cybersecurity program and reduce risk to their organization each and every day. LogRhythm is the highest-ranked provider for customer satisfaction in G2 Research’s grid report for SIEM. To learn more, please visit logrhythm.com.