Professional services company Accenture is set to buy Symantec’s portfolio of Cyber Security Services for an undisclosed amount.
Symantec Corporation was aquired by Broadcom last year for US$10.7 billion.
The latest deal is expected to be finalised in March.
Accenture CEO, Julie Sweet, said the acquisition will help meet growing demand companies have for improved cyber postures.
“Cybersecurity has become one of the most critical business imperatives for all organisations regardless of industry or geographic location,” Sweet said.
“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.”
Managing director of Accenture Security, Kelly Bissell, said Symantec's cross-industry scope adds flexibility to Accenture's security arm.
“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," Bissell said.
"This acquisition is a game-changer and will help Accenture provide flexibility rather than a ‘one size fits all’ approach to managed security services."
Symantec has 300 employees in six operations centres around the world – including one in Sydney – that work as part of its "global threat monitoring and analysis" service.
General manager of Symantec’s Cyber Security Services, John Lionato, said the acquisition will improve his team’s operations.
“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,” Lionato said.
Symantec Cyber Security Services will be added to Accenture’s growing list of acquisitions bolstering its cybersecurity division, including Deja vu Security, iDefense, Maglan, Redcore, Arismore, and FusionX.
Accenture closed the last financial year with a reported revenue of US$43.2 billion.
