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MarketScreener Homepage  >  Equities  >  Nasdaq  >  SecureWorks Corp.    SCWX

SECUREWORKS CORP.

(SCWX)
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Secureworks Named a Leader in the IDC MarketScape: Worldwide Managed Security Services (MSS) 2020 Vendor Assessment

09/18/2020 | 08:01am EST

ATLANTA, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Secureworks® (NASDAQ:SCWX), a leader in software-driven security solutions, today announced it has been recognized as a Leader in the IDC MarketScape: Worldwide Managed Security Services (MSS) 2020 Vendor Assessment.1

The report also recognizes Secureworks’ multi-year strategy to build on in its expertise in security operations, by driving a collaborative, community-based approach to cybersecurity with software at its core.   

This strategic shift was highlighted in the IDC MarketScape report, which stated, “A great deal of time and monetary investment has been put into Secureworks' SaaS product Red Cloak™ Threat Detection and Response capabilities moving the company into a software provider shifting Secureworks into a product plus MSS service provider hybrid category over the past 24–36 months….Secureworks' Threat Intelligence plays another differentiation in what the company provides to its customers.”  

“As Secureworks transforms its business to provide more flexible, software-driven cybersecurity solutions, we’re proud to continue to be recognized as a Leader in the IDC MarketScape Worldwide Vendor Assessment,” said Michael R. Cote, Chief Executive Officer of Secureworks. “The industry is taking note of our innovative software transformation, and this report is a testament to our commitment to outpace and outmaneuver adversaries to protect customers worldwide.” 

Since launch last year more than 200 customers have chosen Secureworks Red Cloak Threat Detection and Response cloud-native security application to transform their security operations, automate and simplify investigations, enable collaboration across security and IT functions in a single platform that sits at the heart of their security operations.

About Secureworks 
Secureworks® (NASDAQ: SCWX), a global cybersecurity leader, enables our customers and partners to outpace and outmaneuver adversaries with more precision, so they can rapidly adapt and respond to market forces to meet their business needs. With a unique combination of cloud-native, SaaS security platform and intelligence-driven security solutions, informed by 20+ years of threat intelligence and research, no other security platform is grounded and informed with this much real-world experience.

www.secureworks.com 

About IDC MarketScape 
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors. 

1 IDC MarketScape: Worldwide Managed Security Services 2020 Vendor Assessment, by Martha Vazquez, September 2020, IDC # US46235320 

Contact: 
Ashley Vandiver 
avandiver@secureworks.com 
press@secureworks.com 
+1 404-432-8657 

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933 and are based on Secureworks' current expectations. In some cases, you can identify these statements by such forward-looking words as “anticipate,” “believe,” “confidence,” “could,” “estimate,” “expect,” “guidance,” “intend,” “may,” “plan,” “potential,” “outlook,” “should,” “will” and “would,” or similar words or expressions that refer to future events or outcomes. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, competitive uncertainties and general economic and business conditions in Secureworks' markets as well as the other risks and uncertainties that are described in Secureworks' periodic reports and other filings with the Securities and Exchange Commission, which are available for review through the Securities and Exchange Commission's website at www.sec.gov. Any forward-looking statement speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update any forward-looking statement after the date as of which such statement was made, whether to reflect changes in circumstances or our expectations, the occurrence of unanticipated events, or otherwise. Any future product, service, feature, benefit or related specification referenced in this press release are for information purposes only and are not commitments to deliver any technology or enhancement.


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Source: SecureWorks Corp.

2020 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2021 560 M - -
Net income 2021 -21,7 M - -
Net cash 2021 209 M - -
P/E ratio 2021 -52,4x
Yield 2021 -
Capitalization 1 013 M 1 013 M -
EV / Sales 2021 1,44x
EV / Sales 2022 1,40x
Nbr of Employees 2 685
Free-Float 9,62%
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Average target price 13,64 $
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NameTitle
Michael R. Cote Chief Executive Officer & Director
Michael Saul Dell Non-Executive Chairman
Kevin Hanes Chief Operating Officer
Paul M. Parrish Chief Financial Officer
Jon R. Ramsey Chief Technology Officer
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