Key Points
- Accenture is buying Australian cybersecurity firm CyberCX.
- The deal is reportedly worth over A$1 billion, making it Accenture’s largest ever in the sector.
- The acquisition comes as Australia faces a surge in major cyberattacks.
- CyberCX was formed in 2019 by merging 12 smaller firms and now has 1,400 employees.
Consulting giant Accenture announced on Thursday it is buying Australian cybersecurity firm CyberCX in a deal reportedly worth over 1 billion Australian dollars (USD650 million). The acquisition is Accenture’s largest ever in the cybersecurity sector. It comes as businesses in Australia and around the world face a growing wave of sophisticated cyber threats.
Australia has been hit particularly hard by cyberattacks in recent years. High-profile breaches at telecom company Optus and health insurer Medibank exposed the personal data of millions of customers. Just last month, Qantas Airways revealed that hackers had infiltrated one of its call centers, accessing the information of six million people.
This wave of attacks has created a booming demand for advanced digital security services, and Accenture is positioning itself to be a major player in the market.
CyberCX was formed in 2019 by merging 12 smaller cybersecurity firms. It now has about 1,400 employees and runs security centers in Australia, New Zealand, London, and New York. The company is led by John Paitaridis, a former managing director at Optus Business, and Alastair MacGibbon, Australia’s former national cybersecurity coordinator.
The deal is the latest in a string of 20 security-focused acquisitions by Accenture since 2015, showing just how aggressively the company is expanding its cybersecurity capabilities.
