Accenture has agreed to acquire Symantec’s Cyber Security Services business from Broadcom, Inc. Financial terms were not disclosed. The transaction is pending some approvals and is expected to be concluded in March this year.
Accenture invested almost USD 1.2 billion worldwide during 2019 fiscal year within 33 acquisitions in order to gain abilities and critical capacities in strategic sectors.
The new acquisition will make Accenture Security one of the leading providers of managed security services, 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. The six 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.
“Cybersecurity has become one of the most critical business imperatives for all organizations regardless of industry or geographic location,” said Julie Sweet, Accenture’s Chief Executive Officer. “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.”
In her turn, Kelly Bissell, senior managing director of Accenture Security pointed out: “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.”