- Accenture recently announced it is buying Symantec’s Cyber Security Services business from Broadcom. These are the details.
Recently, Accenture announced that it is buying Symantec’s Cyber Security Services business from Broadcom. The financial terms were undisclosed.
The acquisition is going to make Accenture Security one of the leading providers of managed security services by further enhancing its ability to help companies rapidly anticipate, detect and respond to cyber threats.
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. And the six security operations centers are located in the U.S., the United Kingdom, India, Australia, Singapore, and Japan. These 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.
“Cybersecurity has become one of the most critical business imperatives for all organizations regardless of industry or geographic location,” said Julie Sweet, Chief Executive Officer at Accenture. “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.”
Symantec’s Enterprise Security business — which is now a division of Broadcom — is headquartered in Mountain View, California and its Cyber Security Services business includes over 300 employees around the world who serve top-tier organizations across a wide range of industries, including financial services, utilities, health, government, communications, media, technology, and retail.
“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,” added C. Kelly Bissell, global managing director, Accenture Security.
Symantec’s Cyber Security Services business is the latest in a series of acquisitions by Accenture along with Deja vu Security, iDefense, Maglan, Redcore, Arismore, and FusionX. These acquisitions demonstrate Accenture Security’s commitment to investing in and innovating advanced threat intelligence and cybersecurity solutions.
“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,” explained John Lionato, VP and general manager of Cyber Security Services business at Symantec.
For the 2019 fiscal year, Accenture invested nearly $1.2 billion globally on 33 acquisitions to buy critical skills and capabilities in strategic and high-growth areas of the market.
The completion of the acquisition is subject to customary closing conditions and is expected to close in March 2020.