Accenture to buy Symantec's Cyber Security Services business

Accenture Australia Ltd

Monday, 13 January, 2020

Accenture to buy Symantec's Cyber Security Services business

Accenture’s security arm is set to get a boost with the anticipated acquisition of Symantec’s Cyber Security Services business.

The professional services firm has agreed to buy Symantec’s Cyber Security Services business from Broadcom in a bid to enhance its ability to help companies prepare for, detect and respond to cyber threats, Accenture said.

Symantec’s portfolio of cybersecurity services includes global threat monitoring and analysis through a network of security operation centres across the US, UK, India, Australia, Singapore and Japan, as well as real-time adversary and industry-specific threat intelligence and incident response services, Accenture explained.

“Cybersecurity has become one of the most critical business imperatives for all organisations regardless of industry or geographic location,” said Accenture’s Chief Executive Officer, Julie Sweet.

“With Symantec’s Cyber Security Services business, we can now bring clients our combined expertise fine-tuned to their industry with tailored global threat intelligence powered by advanced analytics, automation and machine learning,” added Accenture Security Senior Managing Director Kelly Bissell.

Currently, Symantec’s Cyber Security Services business has more than 300 employees globally who serve organisations in a range of industries, including financial services, utilities, health, government, communications, media, technology and retail, Accenture said.

“Becoming part of Accenture Security is a tremendous opportunity for our clients and our cyber warriors around the globe, enabling us to fuse the unique services, capabilities and solutions of two well-established companies to deliver the next generation of cybersecurity services,” said Symantec’s Cyber Security Services Business Vice President and General Manager, John Lionato.

Symantec’s Cyber Security Services business will be the latest in a series of acquisitions — including those of Deja vu Security, iDefense, Maglan, Redcore, Arismore and FusionX, with Accenture having spent nearly US$1.2 billion procuring 33 companies, their skills and capabilities in its 2019 financial year, according to Accenture.

The acquisition is subject to customary closing conditions and expected to close March 2020, Accenture said.

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