Sungard Availability Services (Sungard AS) this week launched a managed security information and event management (MSIEM) service that is designed to help users quickly identify emerging security threats and satisfy compliance reporting.

The new MSIEM service, announced at the McAfee (MFE) FOCUS 14 Security Conference in Las Vegas, enables users to collect security intelligence from appliances and devices across a network.

"Traditional SIEM solutions are complex, costly and notoriously difficult to install and manage," Chris Ortbals, vice president of services product management for Sungard AS, said in a prepared statement. "The new MSIEM service from Sungard AS effectively increases our customers' confidence and visibility to their security picture, expanding their IT security capabilities and reducing the internal burden of audit and compliance efforts."

Sungard AS said its MSIEM service is based on McAfee SIEM technology and provides users with:

  • Access to certified security professionals
  • Compliance monitoring
  • Global threat intelligence

"Sungard AS' managed SIEM service brings a valuable SIEM option to companies that have chosen managed IT services and may no longer have the in-house resources -- or appetite -- to manage the solution fully," said Ryan Allphin, senior vice president and general manager of McAfee Security Management.

The Sungard AS MSIEM service is now available.

Is the SIEM market growing?

Recent data indicates the SIEM market is expected to grow over the next few years, and the new MSIEM service could help Sungard AS increase its revenues.

Research and Markets earlier this year predicted the SIEM market's worth would increase from nearly $2.6 billion in 2014 to more than $4.5 billion by 2019, which represents a 12 percent compound annual growth rate (CAGR).

Sungard AS, meanwhile, has operations in 11 countries and reports annual revenues of approximately $1.4 billion.

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