Accenture, a global consulting company, will acquire CyberCX, a boost to its cyber services in the Asia-Pacific region.
Accenture has signed a deal to acquire Australian cyber-security firm CyberCX, in the largest transaction Accenture has ever made in the cyber security space, according to reports. The Australian Financial Review estimated the value at over A$1 billion, roughly $650 million. Neither Accenture nor seller BGH Capital disclosed the price.Â
Why Accenture is acquiring CyberCX and what it provides
Accenture states the acquisition will enhance its cybersecurity activity in Australia, New Zealand, and further afield. CyberCX operates security operations centres in Australia and New Zealand and has bases in London and New York. The company was established in 2019 when 12 smaller players came together with funding support from private equity. It currently has around 1,400 staff members.
The acquisition follows cyberattacks in Australia that have targeted major players in recent years, including mass breaches that leaked millions of customers’ information. Companies ranging from healthcare to airlines have been attacked, and organizations are shelling out more for tighter security. Accenture has stated it intends to satisfy that growing demand for sophisticated services.
Leadership, scale, and regional reach that matter to buyers
CyberCX is headed by CEO John Paitaridis and Chief Strategy Officer Alastair MacGibbon, who was formerly Australia’s national coordinator on cybersecurity. The company provides incident response, managed detection, and threat intelligence, all those areas clients require when something gets attacked. Accenture has been acquiring security businesses for years, and this acquisition brings local knowledge and additional personnel in the Asia-Pacific region.
BGH Capital, the private equity owner, is not divulging financial information. BGH retained advisers to guide the sale, reports state. Accenture also declined to comment on the proposed valuation when contacted. Normal approval and closing procedures are subject to the deal.
FAQs
- How much is Accenture paying for CyberCX?
Media outlets estimate the deal is worth more than A$1 billion (approximately $650 million), but Accenture and BGH Capital are not publicly disclosing the price.
- What does CyberCX do?
CyberCX offers cybersecurity services such as security operations centres, incident response, threat intelligence, and consulting. It has clients in Australia, New Zealand, and overseas.
- How many people work at CyberCX?
A: The firm has approximately 1,400 employees, reports and company data.
- Why is this acquisition significant?
The acquisition provides Accenture with additional local teams and capabilities in the Asia-Pacific region amid increasing cyberattacks. It also bolsters Accenture’s international cybersecurity business.
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