Accenture announced it will acquire the Australian-based cybersecurity firm CyberCX. According to the Australian Financial Review, the deal is valued at Australian dollars 1 billion (approximately US$650 million), making it Accenture’s largest acquisition in the sector.
Australia has been rocked in recent years by devastating incidents such as the 2022 data breach in which 10 million users’ data was stolen by Optus and a similarly scaled cyberattack on Medibank.
In July, Qantas Airways also announced that the information of 6 million of its customers had been stolen.Founded in 2019 through the merger of 12 small cybersecurity firms and grown with the support of BGH Capital, CyberCX today operates with 1,400 employees and operational centers in Australia, New Zealand, London, and New York. The company is headed by John Paitaridis, former CEO of Optus Business, and Alastair MacGibbon, former national cybersecurity coordinator of Australia.
Accenture has acquired 20 cybersecurity companies since 2015.
Finally, Brazilian Morphus, Mexican-based MNEMO, and Spanish Innotec Security have also joined the company. In February, it signed a $700 million collaboration agreement with Telstra, focusing on artificial intelligence applications. This acquisition clearly demonstrates the current level of global demand for digital security services in the face of growing and complex cyber threats …
