Acquisition will make Accenture Security one of
the world’s leading providers of managed security services
Accenture (NYSE: ACN) has agreed to acquire Symantec’s Cyber
Security Services business from Broadcom, Inc. (NASDAQ: AVGO).
Financial terms were not disclosed.
The acquisition will make Accenture Security one of the leading
providers of managed security services, further enhancing its
ability to help companies rapidly anticipate, detect and respond to
cyber threats.
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 proprietary cloud-based
platform that delivers a steady stream of technical and cyber
adversary threat intelligence through a customizable portal.
“Cybersecurity has become one of the most critical business
imperatives for all organizations regardless of industry or
geographic location,” said Julie Sweet, Accenture’s Chief Executive
Officer. “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, senior managing director of Accenture Security
said, “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.”
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.
“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,” said John Lionato, vice president and
general manager of Symantec’s Cyber Security Services business.
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 — that demonstrate
Accenture Security’s commitment to investing in and innovating
advanced threat intelligence and cybersecurity solutions.
In its 2019 fiscal year, Accenture invested nearly US$1.2
billion globally on 33 acquisitions to acquire critical skills and
capabilities in strategic, high-growth areas of the market.
Completion of the acquisition is subject to customary closing
conditions and is expected to close in March 2020.
About Accenture
Accenture is a leading global professional services company,
providing a broad range of services and solutions in strategy,
consulting, digital, technology and operations. Combining unmatched
experience and specialized skills across more than 40 industries
and all business functions — underpinned by the world’s largest
delivery network — Accenture works at the intersection of business
and technology to help clients improve their performance and create
sustainable value for their stakeholders. With 505,000 people
serving clients in more than 120 countries, Accenture drives
innovation to improve the way the world works and lives. Visit us
at www.accenture.com.
Accenture Security helps organizations build resilience
from the inside out, so they can confidently focus on innovation
and growth. Leveraging its global network of cybersecurity labs,
deep industry understanding across client value chains and services
that span the security lifecycle, Accenture helps organizations
protect valuable assets, end-to-end. With services that include
strategy and risk management, cyber defense, digital identity,
application security and managed security, Accenture enables
businesses around the world to defend against known sophisticated
threats, and the unknown. Follow us @AccentureSecure on Twitter or
visit us at www.accenture.com/security.
This document makes descriptive reference to trademarks that may
be owned by others. The use of such trademarks herein is not an
assertion of ownership of such trademarks by Accenture and is not
intended to represent or imply the existence of an association
between Accenture and the lawful owners of such trademarks.
Copyright © 2020 Accenture. All rights reserved. Accenture, and
its logo are trademarks of Accenture.
Forward-Looking Statements
Except for the historical information and discussions contained
herein, statements in this news release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as “may,”
“will,” “should,” “likely,” “anticipates,” “expects,” “intends,”
“plans,” “projects,” “believes,” “estimates,” “positioned,”
“outlook” and similar expressions are used to identify these
forward-looking statements. These statements involve a number of
risks, uncertainties and other factors that could cause actual
results to differ materially from those expressed or implied. These
include, without limitation, risks that: Accenture and Broadcom,
Inc. will not be able to close the transaction in the time period
anticipated, or at all, which is dependent on the parties’ ability
to satisfy certain closing conditions; the transaction might not
achieve the anticipated benefits for Accenture; Accenture’s results
of operations could be adversely affected by volatile, negative or
uncertain economic and political conditions and the effects of
these conditions on the company’s clients’ businesses and levels of
business activity; Accenture’s business depends on generating and
maintaining ongoing, profitable client demand for the company’s
services and solutions including through the adaptation and
expansion of its services and solutions in response to ongoing
changes in technology and offerings, and a significant reduction in
such demand or an inability to respond to the evolving
technological environment could materially affect the company’s
results of operations; if Accenture is unable to keep its supply of
skills and resources in balance with client demand around the world
and attract and retain professionals with strong leadership skills,
the company’s business, the utilization rate of the company’s
professionals and the company’s results of operations may be
materially adversely affected; Accenture could face legal,
reputational and financial risks if the company fails to protect
client and/or company data from security breaches or cyberattacks;
the markets in which Accenture operates are highly competitive, and
Accenture might not be able to compete effectively; changes in
Accenture’s level of taxes, as well as audits, investigations and
tax proceedings, or changes in tax laws or in their interpretation
or enforcement, could have a material adverse effect on the
company’s effective tax rate, results of operations, cash flows and
financial condition; Accenture’s profitability could materially
suffer if the company is unable to obtain favorable pricing for its
services and solutions, if the company is unable to remain
competitive, if its cost-management strategies are unsuccessful or
if it experiences delivery inefficiencies; Accenture’s results of
operations could be materially adversely affected by fluctuations
in foreign currency exchange rates; as a result of Accenture’s
geographically diverse operations and its growth strategy to
continue to expand in its key markets around the world, the company
is more susceptible to certain risks; Accenture’s business could be
materially adversely affected if the company incurs legal
liability; Accenture’s work with government clients exposes the
company to additional risks inherent in the government contracting
environment; if Accenture is unable to manage the organizational
challenges associated with its size, the company might be unable to
achieve its business objectives; Accenture’s ability to attract and
retain business and employees may depend on its reputation in the
marketplace; if Accenture does not successfully manage and develop
its relationships with key alliance partners or fails to anticipate
and establish new alliances in new technologies, the company’s
results of operations could be adversely affected; Accenture might
not be successful at acquiring, investing in or integrating
businesses, entering into joint ventures or divesting businesses;
if Accenture is unable to protect or enforce its intellectual
property rights or if Accenture’s services or solutions infringe
upon the intellectual property rights of others or the company
loses its ability to utilize the intellectual property of others,
its business could be adversely affected; Accenture’s results of
operations and share price could be adversely affected if it is
unable to maintain effective internal controls; changes to
accounting standards or in the estimates and assumptions Accenture
makes in connection with the preparation of its consolidated
financial statements could adversely affect its financial results;
many of Accenture’s contracts include fees subject to the
attainment of targets or specific service levels, which could
increase the variability of the company’s revenues and impact its
margins; Accenture might be unable to access additional capital on
favorable terms or at all and if the company raises equity capital,
it may dilute its shareholders’ ownership interest in the company;
Accenture may be subject to criticism and negative publicity
related to its incorporation in Ireland; as well as the risks,
uncertainties and other factors discussed under the “Risk Factors”
heading in Accenture plc’s most recent annual report on Form 10-K
and other documents filed with or furnished to the Securities and
Exchange Commission. Statements in this news release speak only as
of the date they were made, and Accenture undertakes no duty to
update any forward-looking statements made in this news release or
to conform such statements to actual results or changes in
Accenture’s expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20200107005343/en/
Alison GeibAccenture+1 703 947
4404alison.geib@accenture.comDenise BerardAccenture+1 617 488
3611denise.berard@accenture.com
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