US cybersecurity companies McAfee Enterprise and FireEye have merged to form a “stronger entity”, named Trellix, to thwart cyber attacks and fight sophisticated criminals, the new company’s chief executive Bryan Palma said.
Trellix will be a part of California-based private equity firm Symphony Technology Group that has a portfolio of more than 35 global companies.
The new company is valued about $1.7 billion. With about 4,500 employees around the world, it has more than 40,000 customers globally.
The merger was originally announced in October, but the new brand identity and other details were made public on Wednesday.
Middle East customers are very conscious about cyber security and this market will a key growth area for us ... we are also looking to have good business from Asia, Europe and the US market
Bryan Palma,
chief executive of Trellix
Trellix will deliver “XDR [extended detection and response] capabilities to organisations through machine learning and automation”, Mr Palma told The National in an exclusive interview.
“Trellix’s XDR platform protects our customers as we bring security to life with automation, machine learning, extensible architecture and threat intelligence.”
The fresh brand identity and collaborative efforts will result in robust growth for the new company, Mr Palma said.
“Rebranding the company is a significant investment … part of the reason why we are doing it is to achieve fast growth. Going by the market trends, we aim to grow [our revenue] in double digits … we see that as an opportunity over the next couple of years,” he added.
The XDR ecosystem lets users ingest more than 600 security technologies. By providing security analysts with better insight, granting more control and delivering comprehensive threat context, it can save time and act decisively to remediate threats.
Trellix is also looking towards going public in the coming years.
“We are highly profitable and are very well positioned. We would love to go public at the right time … but for now, we are focused on executing our strategy and delivering right security tools to our customers,” said Mr Palma, without specifying when that might occur.
Increasing complexities of cyber attacks have driven the former competitors to join forces and act as a single unit, said Mr Palma, who was previously an executive vice president of FireEye’s product division.
“We are seeing very complex attacks … this is what we saw with SolarWinds breach, Microsoft’s zero-day vulnerability and the recent Log4Jj attacks on supply chains … [and] with many people working remotely due to Covid, criminals are finding new vulnerabilities and orchestrating more sophisticated attacks.
“We thought about the situation and also the best solutions … we really reached this position where putting McAfee and FireEye together was going to add a lot of synergy to our portfolio and Trellix came out of it.”
The company aims to offer both in-premise and cloud security solutions to its customers.
From an investment perspective, the company’s strong focus will be on artificial intelligence and machine learning, said Mr Palma.
“We are moving the industry from detection and response perspective to an immediate automated remediation,” he added.
To spread the word about the new brand, Trellix will be “investing a lot” in running media campaigns across different platforms, he said.
The global cybersecurity market size is forecast to grow to $345.4bn by 2026, a jump of more than 58.5 per cent from $217.9bn last year, Statista reported.
Cyber security is the practice of protecting computer information systems, hardware, network and confidential data from cyber attacks. An increasing awareness of cyber threats has led to a rising investment in cybersecurity infrastructure worldwide.
Mr Palma said amid the booming cybersecurity industry, the Middle East will be their key market for growth.
“Both FireEye and McAfee have done very well in the region, and we will continue to invest there.
“Middle East customers are very conscious about cyber security and this market will a key growth area for us. We are also looking to have good business from Asia, Europe and the US market.”
He also said ransomware and supply chain attacks will dominate the industry in the coming months and so protecting against threats to cryptocurrencies, social media and Internet of Things devices should also be top priorities.
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
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A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
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THREE POSSIBLE REPLACEMENTS
Khalfan Mubarak
The Al Jazira playmaker has for some time been tipped for stardom within UAE football, with Quique Sanchez Flores, his former manager at Al Ahli, once labelling him a “genius”. He was only 17. Now 23, Mubarak has developed into a crafty supplier of chances, evidenced by his seven assists in six league matches this season. Still to display his class at international level, though.
Rayan Yaslam
The Al Ain attacking midfielder has become a regular starter for his club in the past 15 months. Yaslam, 23, is a tidy and intelligent player, technically proficient with an eye for opening up defences. Developed while alongside Abdulrahman in the Al Ain first-team and has progressed well since manager Zoran Mamic’s arrival. However, made his UAE debut only last December.
Ismail Matar
The Al Wahda forward is revered by teammates and a key contributor to the squad. At 35, his best days are behind him, but Matar is incredibly experienced and an example to his colleagues. His ability to cope with tournament football is a concern, though, despite Matar beginning the season well. Not a like-for-like replacement, although the system could be adjusted to suit.
