Accenture (NYSE: ACN) has agreed to acquire Symantec’s Cyber Security
Services business from Broadcom, Inc. (NASDAQ: AVGO). Financial terms
were not disclosed.
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.
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.”
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.
“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 cybersecurity services,”
said John Lionato, vice president and general manager of 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 and
innovating advanced threat intelligence and cybersecurity solutions.
In its 2019 fiscal year, Accenture invested nearly US$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 is expected to close in March 2020.
About Accenture
Accenture is a leading global professional services company, providing a
broad range of services and solutions in strategy, consulting, digital,
technology and operations. Combining unmatched experience and
specialized skills across more than 40 industries and all business
functions — underpinned by the world’s largest delivery network —
Accenture works at the intersection of business and technology to help
clients improve their performance and create sustainable value for their
stakeholders. With 505,000 people serving clients in more than 120
countries, Accenture drives innovation to improve the way the world
works and lives. Visit us at www.accenture.com.
Accenture Security helps organizations build resilience from the
inside out, so they can confidently focus on innovation and growth.
Leveraging its global network of cybersecurity labs, deep industry
understanding across client value chains and services that span the
security lifecycle, Accenture helps organizations protect valuable
assets, end-to-end. With services that include strategy and risk
management, cyber defense, digital identity, application security and
managed security, Accenture enables businesses around the world to
defend against known sophisticated threats, and the unknown. Follow us
@AccentureSecure on Twitter or visit us at www.accenture.com/security.
This document makes descriptive reference to trademarks that may be
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of ownership of such trademarks by Accenture and is not intended to
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Copyright © 2020 Accenture. All rights reserved. Accenture, and its logo
are trademarks of Accenture.
Forward-Looking Statements
Except for the historical information and discussions contained herein,
statements in this news release may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,”
“anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,”
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results to differ materially from those expressed or implied. These
include, without limitation, risks that: Accenture and Broadcom, Inc.
will not be able to close the transaction in the time period
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satisfy certain closing conditions; the transaction might not achieve
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Accenture may be subject to criticism and negative publicity related to
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plc’s most recent annual report on Form 10-K and other documents filed
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