Accenture to Acquire Symantec’s Cyber Security Services Business

Accenture to Acquire Symantec's Cyber Security Services Business

Accenture Security is to acquire Symantec's Cyber Security Services business from Broadcom.

No financial terms were disclosed regarding the acquisition, which is expected to close in March 2020, subject to customary conditions.  

The impending Symantec deal is the latest in a long line of acquisitions by Accenture Security in the threat intelligence and cybersecurity fields. Already in Accenture's cyber-stable are Deja vu SecurityiDefenseMaglanRedcoreArismore, and FusionX.

With this latest acquisition, Accenture Security has signaled its intention to become one of the main players on the managed security services stage.

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

“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.”

The cybersecurity services arm of Symantec operates from six operations centers set in Australia, India, Japan, Singapore, the UK, and the US. 

Included in Symantec’s portfolio of cybersecurity services are global threat monitoring and analysis through a network of security operation centers, real-time adversary and industry-specific threat intelligence, and incident response services. 

Once the acquisition is complete, Accenture hopes to be able to offer clients a more personalized cybersecurity service.

Kelly Bissell, senior managing director of Accenture Security, said: “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.”

Symantec’s Enterprise Security business, now a division of Broadcom, 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.

Source: Information Security Magazine