Accenture to buy Australian cybersecurity firm CyberCX for reported $650 million

Accenture, a global professional services firm, announced its agreement to acquire CyberCX, a prominent Australian cybersecurity company, in what is reportedly its largest-ever acquisition in the sector. The deal, valued at over A1billion(approximatelyUS650 million) according to sources like the Australian Financial Review, is a significant move to bolster Accenture’s cybersecurity capabilities in the Asia-Pacific region.

The acquisition of CyberCX, which was founded in 2019 by private equity firm BGH Capital, reflects the surging global demand for advanced digital security services in the face of increasingly sophisticated cyber threats. With a workforce of about 1,400 professionals, CyberCX has quickly established itself as a top force in the cybersecurity landscape of Australia and New Zealand, offering a wide range of services from consulting and managed security to incident response and threat intelligence.

The move comes at a crucial time for Australia, which has been hit by a series of high-profile cyberattacks in recent years, affecting major telecommunication and healthcare companies. This has spurred both government and private sector organizations to prioritize cyber resilience. A recent Accenture report highlighted this urgency, revealing that 97% of Australian organizations are not adequately prepared to secure their AI-driven future.

“By combining Accenture’s agentic AI capabilities with CyberCX’s strong market leadership and trusted C-suite and government relationships, we will enable clients across Asia Pacific to transform cybersecurity into a strategic advantage,” said Paolo Dal Cin, global lead for Accenture Cybersecurity.

For CyberCX, joining Accenture’s global network provides an opportunity for accelerated growth and access to a broader client base. “Our exceptional people will be able to combine forces with global capabilities and provide world-top cybersecurity services to an even greater number of clients,” said John Paitaridis, CEO of CyberCX.

The acquisition is part of Accenture’s broader strategy to expand its cybersecurity portfolio, with the firm having completed 20 security-related acquisitions since 2015. The transaction is subject to customary closing conditions, including regulatory approvals.