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Accenture Acquires Symantec MSSP Business, SOCs From Broadcom

Accenture is acquiring Symantec’s Cyber Security Services Business — which includes major MSSP capabilities — from Broadcom. To be clear, Broadcom continues to own Symantec’s enterprise security software business.

This is M&A Deal Number 9 that MSSP Alert and ChannelE2E have covered in 2020. See the complete M&A deal list here.

Symantec’s managed security services provider unit has roughly 300 employees, and is ranked among the Top 200 MSSPs for the past three years, according to MSSP Alert research. That team now joins the Accenture Security organization, which also ranks among the Top 200 MSSPs worldwide.

The Symantec Cyber Security Services business and MSSP operations include:

  • global threat monitoring and analysis through a network of security operation centers;
  • real-time adversary and industry-specific threat intelligence and incident response services;
  • Six security operations centers (SOCs) located in the U.S., the United Kingdom, India, Australia, Singapore and Japan; and
  • a proprietary cloud-based platform that delivers a steady stream of technical and cyber adversary threat intelligence through a customizable portal, Accenture says.

Accenture Acquires Symantec MSSP, Cyber Security Services Business: Executive Perspectives

In a prepared statement, Accenture CEO Julie Sweet said:

“Cybersecurity has become one of the most critical business imperatives for all organizations regardless of industry or geographic location. 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, Accenture Security

John Lionato, Symantec Cyber Security Services

Added Kelly Bissell, senior managing director of Accenture Security:

“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.”

Concluded John Lionato, vice president and general manager of Symantec’s Cyber Security Services business:

“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.

Financial terms of the deal were not disclosed. The acquisition is expected to close in March 2020.

MSSP Mergers and Acquisitions: Deal List Grows

Accenture has made multiple cybersecurity consulting and technology acquisitions over the past year. The deals include Deja vu Security, iDefense, Maglan, Redcore, Arismore and FusionX, among others.

M&A activity involving MSSPs remains strong — as this growing list of MSSP mergers and acquisitions shows.

 

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