With the aim to pep-up its security business the IT consulting firm Accenture said that it will acquire Symantec's Cyber Security Services business from Broadcom. The company did not disclose the financial terms of the deal and the acquisition is expected to close in March 2020.
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.
According to a company note, the acquisition is likely to bolster Accenture Security as the leading providers of managed security services. 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.
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 cloud-based platform that delivers a stream of technical and cyber adversary threat intelligence through a customizable portal.
“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,” said Julie Sweet, Accenture's Chief Executive Officer.
In its 2019 fiscal year, Accenture invested nearly $1.2 billion globally on 33 acquisitions to acquire critical skills and capabilities in strategic, high-growth areas of the market.