High Wire Networks Named to MSSP Alert’s 2023 List of Top 250 MSSPs

Seventh Annual List Reveals Leading MSSP, MDR and MSP Security Companies Expect Strong Revenue Growth in 2023 vs. 2022

BATAVIA, Ill., Sept. 19, 2023 (GLOBE NEWSWIRE) -- High Wire Networks, Inc. (OTCQB: HWNI), a leading global provider of managed cybersecurity and technology enablement, ranks among the Top 250 MSSPs (https://www.msspalert.com/top-250) for 2023, according to MSSP Alert, a CyberRisk Alliance resource.

The Top 250 MSSPs honorees were announced in a live webcast on September 14.

• Complete list and research report are available here: www.msspalert.com/top-250
• The on-demand webcast will be available to watch here: www.msspalert.com/webcasts

Key findings include:

• MSSP Revenue Growth & Financial Performance: MSSP honorees, on average, expect to generate $56.3 million in revenue for 2023, more than double the number from MSSP Alert’s 2022 report. However, the 2023 Top 250 reported 2022 revenues averaged $47 million.
• Geography: Honorees are headquartered in 37 different countries.
• Profits: 87% of MSSPs surveyed expect to be profitable for fiscal year 2023.
• Security Operations Centers: 67% have in-house SOCs, 23% are hybrid, 8% completely outsource their SOCs, and 1% are reevaluating their SOC strategies.
• Cyberattack Trends: The most frequent attacks targeting MSSP customers in 2023 include phishing (95%), vulnerability exploits (91%) and ransomware (86%).
• Cybersecurity Solutions: Larger MSSPs were more likely to run their SOC entirely in-house (85%) while just half of smaller segment MSPs ran their SOCs in-house and 33% took a hybrid approach (a portion in-house and a portion outsourced.)
• Key Managed Security Services Offered: Almost all of the larger MSSPs (90%) provided 24/7 security event monitoring and response for threat detection use cases on their own. While 61% of the smaller MSSPs provided these services on their own, 35% partnered with another company for these services and 4% of the smaller MSSPs did not offer them at all.
  

High Wire Networks was ranked among the Top 250 MSSPs for 2023.

“Our strong ranking at 102 on the list recognizes our leadership in delivering best-in-breed IT and cybersecurity managed services for our channel partners and end-customers worldwide,” stated High Wire COO, Stephen LaMarche. “It also reflects how our outlook for continued strong growth in managed services is supported by the hard work and dedication of our more than 625 premium channel partners worldwide.”