Accenture to Acquire Symantec Cyber Security Services Business From Broadcom

Accenture LLC agreed to acquire Symantec’s Cyber Security Services business from Broadcom, Inc.

Financial terms were not disclosed.

The acquisition will make Accenture Security one of the leading providers of managed security services, 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 6 security operations centers are located in USA, UK, 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 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.”

Kelly Bissell, senior MD, 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 ML.”

Symantec’s Enterprise Security business, now a division of Broadcom, is headquartered in Mountain View, CA and its Cyber Security Services business includes more than 300 employees around the world who serve organizations across a industries including financial services, utilities, health, government, communications, media, technology and retail.

“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 2 well-established companies to deliver the next gen of cybersecurity services,” said John Lionato, VP and GM, Symantec’s Cyber Security Services business.

Symantec’s Cyber Security Services business will be the latest in a series of acquisitions – including those of Deja vu Security, iDefense, Maglan, Redcore, Arismore and FusionX – that demonstrate Accenture Security’s commitment to investing in threat intelligence and cybersecurity solutions.

In its FY19, Accenture invested nearly $1.2 billion globally on 33 acquisitions to acquire critical skills and capabilities in strategic, high-growth areas of the market.

Completion of the acquisition is subject to customary closing conditions and expected to close in March 2020.