Radware Drives New Revenue Streams for Managed Security Service Providers
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The announcement by Radware of a new business model for MSSPs is significant in the cybersecurity industry. It reflects the growing trend where businesses are increasingly outsourcing their security needs to specialized service providers. The ability for MSSPs to customize, rebrand and resell Radware's Cloud DDoS Protection and Cloud Application Protection Services is particularly noteworthy. These services are essential for defending against sophisticated cyber-attacks like DDoS, DNS and application-layer threats, which are becoming more frequent and complex.
Radware's focus on AI-powered algorithms is a critical aspect of their offering, as it speaks to the need for advanced solutions that can adapt to evolving threats while reducing false positives and the burden on human operators. This approach aligns with the broader industry shift towards automation and machine learning in cyber defense strategies. By leveraging AI, MSSPs can offer more efficient and effective security services, which could indeed open up new revenue streams and provide a competitive edge in the market.
From a financial perspective, Radware's strategic move to empower MSSPs with innovative tools and services could have a positive impact on their revenue growth. By enabling MSSPs to extend Radware's services to their clientele, Radware taps into the MSSPs' existing customer base, potentially increasing market penetration and sales volume. This business model can also contribute to a more predictable, recurring revenue stream, which is highly valued by investors and can lead to improved market valuation.
Moreover, the partnership with US Signal, as mentioned in the announcement, is indicative of Radware's ability to attract and retain large service providers, which could be a bullish signal for investors. It's also important to note that recognition by industry analysts often correlates with increased investor confidence, which may contribute to a positive stock market reaction.
Assessing the market dynamics, Radware's new offering is well-positioned to capitalize on the growing demand for managed security services. According to recent market research, the MSSP market is expected to expand significantly in the coming years, driven by the increasing complexity of cyber threats and the need for specialized expertise. Radware's initiative to support MSSPs in developing a comprehensive security service practice could address a substantial gap in the market, especially for organizations that lack in-house capabilities to combat advanced cyber threats.
The partnership with service providers like US Signal also indicates that Radware is strategically aligning with reputable companies to enhance its market presence. This collaboration could serve as a benchmark for other potential partnerships, potentially boosting Radware's market share and strengthening its position as a leader in the cybersecurity space.
Enables MSSPs to provide industry-leading security services, while reducing total cost of ownership
MAHWAH, New Jersey, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced a new flexible business model for managed security service providers (MSSPs). The offering enables service providers to enjoy new revenue streams and grow their businesses by extending an innovative line of managed network and application security services to their customers.
“MSSPs are under constant pressure to evolve their services and deliver an exceptional user experience without eroding their margins,” said Haim Zelikovsky, vice president of Radware’s cloud business. “Our security experts work alongside service providers to not only defend their customers against cyber threats, but also offer them a unique opportunity to create an industry-leading portfolio of security services that can drive new revenue streams.”
Catering to their business needs, Radware’s new offering enables MSSPs to customize, rebrand, and resell the company’s Cloud DDoS Protection and Cloud Application Protection Services. The services are built to defend MSSPs’ customers against advanced cyber threats, including DDoS, DNS, application, and layer 7 Web DDoS attacks.
Leading service providers like US Signal are working with Radware to expand their cyber defense portfolios and strengthen their customers’ experiences.
“Radware understands the unique needs and challenges that service providers face. In addition, to meeting important scale and technology requirements, what sets Radware’s MSSP program apart is the built-in support it offers in standing up a comprehensive security service practice,” said David Humes, vice president of product development for US Signal, a leading provider of cloud solutions, network connectivity, and data center services. “We selected Radware for their advanced technology, expertise in surgically combating volumetric attacks, and ability to help us fast track a new value-added security offering for our customers.”
Radware’s network and application security solutions are built on AI-powered algorithms to protect legitimate user experiences while minimizing false positives and the need for human intervention. The company has received numerous awards for its security solutions. Industry analysts such as Aite-Novarica Group, Forrester Research, Gartner, GigaOm, KuppingerCole, and Quadrant Knowledge Solutions continue to recognize Radware as a market leader in cyber security.
About Radware
Radware® (NASDAQ: RDWR) is a global leader of cyber security and application delivery solutions for physical, cloud, and software defined data centers. Its award-winning solutions portfolio secures the digital experience by providing infrastructure, application, and corporate IT protection, and availability services to enterprises globally. Radware’s solutions empower enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity, and achieve maximum productivity while keeping costs down. For more information, please visit the Radware website.
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Media Contact:
Gerri Dyrek
Radware
Gerri.Dyrek@radware.com
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