Accenture is acquiring Symantec’s cyber security services business from Broadcom for an undisclosed sum, just months after Broadcom paid over $10.7bn to acquire the whole enterprise division of Symantec.
At the time of that deal there was speculation as to what Broadcom would do with all the acquired assets, and since then a flurry of acquired Symantec executives have jumped ship, see here http://www.iteuropa.com/news/competitors-target-symantec-customers-compa... and there has been an evolving shake-up in its EMEA channel, see here http://www.iteuropa.com/news/nuvias-replaces-symantec-bitdefender-dach.
“The 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,” said the global consulting firm, which has rapidly been acquiring digital services companies over the last 18 months.
Symantec’s portfolio of cyber security services includes global threat monitoring and analysis through a network of security operations centres, real-time adversary and industry-specific threat intelligence and incident response services. The six security operations centres, which come as part of the deal, are located in the US, the UK, India, Australia, Singapore and Japan. Symantec's 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 customisable portal.
“Cyber security has become one of the most critical business imperatives for all organisations regardless of industry or geographic location,” said Julie Sweet, Accenture 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 cyber security threats aimed at their companies.”
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 organisations across a diverse range of industries, including financial services, utilities, health, government, communications, media, technology and retail. Most of these staff will be offered a transfer to Accenture.
“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 cyber security services,” said John Lionato, vice president and general manager of Symantec’s cyber security services business.
Deja vu Security, iDefense, Maglan, Redcore, Arismore and FusionX have all previously been acquired by Accenture Security. In its 2019 fiscal year, Accenture invested nearly $1.2bn globally on 33 acquisitions to acquire critical skills and capabilities in strategic, high-growth areas.
This latest deal is expected to be completed in March 2020.
IT Europa says
Of course, Accenture is itself a provider of managed services to its customers, albeit mainly large enterprises, so Symantec's channel may be reluctant to stick with it. Symantec seems to have been holding back its message to customers and channels in recent months, and this has not been lost on the competition. Accenture does not have any history of working with channels, so the race may be on to sign up such Symantec partners as remain.
