Accenture to buy Symantec's Cyber Security Services business
Management and technology consultancy Accenture has agreed to purchase Symantec’s Cyber Security Services business from semiconductor manufacturer Broadcom. The deal, for which financial terms were not disclosed, is expected to close in March.
Broadcom had purchased the cybersecurity unit as part of its $10.7 billion acquisition of Symantec’s enterprise software division last year.
Based in Mountain View, California, Symantec's cybersecurity services unit has more than 300 professionals around the world. The unit’s offerings include threat monitoring and analysis, real-time adversary and industry-specific threat intelligence, and incident response services. It has six security operations centers across the US, UK, India, Australia, Singapore, and Japan, with its managed services supported by a proprietary cloud platform that relays technical and cyber threat intelligence.
The acquisition bolsters the managed security line of Accenture Security, which also provides strategy and risk management, cyber defense, digital identity, and application security offerings. The deal also delivers valuable cybersecurity data gleaned from Symantec’s various products and services, giving the consultancy more insight into hacker methods and potential threats.
“Cybersecurity has become one of the most critical business imperatives for all organizations regardless of industry or geographic location,” said Julie Sweet, Accenture’s CEO. “With the addition of Symantec’s Cyber Security Services business, Accenture Security will offer one of the most comprehensive managed services for global businesses to detect and manage cybersecurity threats aimed at their companies.”
According to Kelly Bissell, a senior managing director at Accenture Security, the deal will allow the firm to provide even more specifically tailored managed security services to various industry clients, powered by Symantec’s global threat intelligence.
John Lionato, vice president and general manager of Symantec’s Cyber Security Services business, 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.”
The deal follows a string of acquisitions for Accenture in the cybersecurity space, having previously bought Deja vu Security, iDefense, Maglan, Redcore, Arismore, and FusionX. The 2019 fiscal year saw the Dublin-based consulting firm invest nearly $1.2 billion on 33 global acquisitions in the market. As the number and severity of attacks increases (with consequent demand from enterprise clients), further investment is a solid bet.
