BY Deriq T. Bernard
LEADING global professional services company Accenture recently acquired Symantec’s Cyber Security Services business from Broadcom, Inc. creating Accenture Security. Financial terms were not disclosed.
“Cybersecurity has become one of the most critical business imperatives for all organizations regardless of industry or geographic location,” Julie Sweet, Accenture’s Chief Executive Officer told reporters.
Symantec’s portfolio of Cyber Security Services includes global threat monitoring and analysis through a network of security operation centers, real-time adversary and industry-specific threat intelligence and incident response services.
The security operations centers are located in the U.S., the United Kingdom, India, Australia, Singapore and Japan. Its managed security services business is supported by a proprietary Cloud-based platform that delivers a steady stream of technical and cyber adversary threat intelligence through a customizable portal.
“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,” Sweet added.
Companies are facing an unprecedented volume of cyber threats that are highly-sophisticated and targeted to their businesses, and they can no longer rely solely on generic solutions. This acquisition is a game-changer and will help Accenture provide flexibility rather than a ‘one size fits all’ approach to managed security services. 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,” Kelly Bissell, senior managing director of Accenture Security said.
Symantec’s Enterprise Security business, is headquartered in Mountain View, California and its Cyber Security Services business includes more than 300 employees around the world who serve top-tier organizations across a diverse range of industries, including financial services, utilities, health, government, communications, media, technology and retail.
This is Accenture’s latest security service acquisition which also includes Deja vu Security, iDefense, Maglan, Redcore, Arismore and FusionX, demonstrating the company’s commitment to investing in and innovating advanced threat intelligence and cybersecurity solutions. In its 2019 fiscal year, it invested nearly $1.2B globally on 33 acquisitions to acquire critical skills and capabilities in strategic, high-growth areas of the market.
Completion of this acquisition is subject to customary closing conditions and is expected to close in March 2020.