Accenture has acquired Australian cybersecurity company CyberCX, marking Accenture’s largest ever acquisition in the cybersecurity sector. On Thursday, Reuters reported that the Australian Financial Review valued the transaction at over 1 billion Australian dollars ($650 million dollars).
Founded in Melbourne in 2019 and with offices in London and New York, CyberCX is one of the largest and most important cybersecurity companies in the Asia-Pacific region, with a workforce of approximately 1,400 professionals.
The cybersecurity specialist serves public and private sector organisations in Australia, New Zealand and internationally, with established partnerships with well-known players in the cybersecurity field such as Microsoft, Palo Alto Networks and CrowdStrike.
Its end-to-end services range from consulting to transformation and managed security services,including advanced capabilities in offensive security and cyber-physical security, crisis management and threat intelligence.
Accenture said this move will significantly strengthen Accenture’s cybersecurity services in the Asia-Pacific region, boosting its ability to build business resilience. The financial services firm will also leverage CyberCX’s AI-powered platforms that provide cybersecurity services, including detection and response, secure and sovereign cloud, CyberCX Academy for training and learning, as well as proprietary tools for security testing and cyber intelligence.
Accenture has been expanding its cybersecurity portfolio over the past decade, completing twenty acquisitions in the security sector, including the most recent acquisitions of Morphus, Mnemo Mexico, and Innotec Security.
In a statement released on Thursday, Accenture shared an internal report that found that 97 per cent of Australian organisations are not adequately prepared to secure their AI-powered future, with 80 per cent lacking the critical data and AI-based cybersecurity practices needed to protect their models, data flows and cloud infrastructure.
Paolo Dal Cin, global head of Accenture Cybersecurity, emphasised how CyberCX and Accenture share a mission to harness the power of cyber to help our clients navigate change safely, accelerate business reinvention and build resilience against ever-evolving threats.
“By combining Accenture’s agentic AI capabilities with CyberCX’s strong market leadership, innovative offerings and trusted C-suite and government relationships, we will enable clients across Asia Pacific to transform cybersecurity into a strategic advantage,” he said.
