McAfee launched a managed version of its Enterprise Security Manager (ESM) that bolsters its position in the rapidly expanding security and information event management (SIEM) space.

The McAfee ESM Cloud is a managed SIEM service that allows organizations to detect and investigate security issues. It builds on McAfee’s already established ESM product that acts as a central console to manage configuration, management, reporting, and workflow.

The platform also provides scalable event collection, normalization, enrichment, and analytics that moves McAfee closer to detection and response (XDR) capabilities. These capabilities are typically connected to software-as-a-service (SaaS) platforms that natively integrate different security products into a single pane of glass for easier management.

Anand Ramanathan, VP of enterprise products for ESM Cloud at McAfee, said the managed part removes setup and maintenance needs compared with traditional SIEM products and that customers can get the ESM Cloud platform up and running in under two hours.

“The customer doesn’t need to choose which infrastructure service platform they may be using for other cloud services,” Ramanathan explained. “They just subscribe to this cloud service, they then just log into their ESM [user interface] like they would have done if the product was on-prem, and the security analyst pretty much gets all the same capabilities.”

Customers selecting the ESM Cloud option should also see performance at least comparable to on-premises deployment.

“We know how to operate our systems the best,” Ramanathan said. “One of the things we have done is work with the cloud providers to optimize our system so that it works in the best possible way in the cloud environment.”

Ramanathan said that this will also eventually allow the ESM Cloud service to overtake on-premises ESM deployments. “I think if you fast forward a few years, we would be definitely seeing cloud as being a bigger footprint to what we're seeing on our on-prem solutions today,” he added.

The move also changes McAfee’s traditional pricing model from a single, upfront payment for on-premises hardware to a subscription model. Ramanathan noted that customers can start with a small deployment, and then once they need more capabilities they can extend their licensing agreement.

This model echoes what has been an increasing trend of SIEM platforms moving into the cloud. Microsoft, for instance, earlier this year launched general availability of its Azure Sentinel platform that brings together events generated by third-party vendors’ security products and signals generated by competitor’s cloud platforms such as Amazon Web Services (AWS).

The launch continues what has been a busy year for McAfee.

McAfee earlier this year announced a deal to buy browser isolation startup Light Point Security, rolled out new secure access service edge (SASE) and cloud-native infrastructure capabilities, and launched a global managed detection and response (MDR) platform with DXC Technology as its first strategic MDR partner.

The vendor also hired a new CEO and has been reportedly mulling either an initial public offering or a sale.

A recent Canalys report ranked McAfee as the No. 7 cybersecurity vendor in terms of market share during the first quarter of this year. McAfee scooped up 4% of the more than $10 billion generated during the quarter.