SYDNEY: Accenture announced its acquisition of Australian cybersecurity firm CyberCX, marking its largest deal in the sector.
The Australian Financial Review reported the transaction value at over A$1 billion ($650 million).
Australia has faced severe cyberattacks, including the 2022 Optus breach exposing 10 million users’ data.
Health insurer Medibank also suffered a hack affecting nearly 10 million customers last year.
Qantas Airways revealed in July that hackers accessed six million customers’ data through a call centre breach.
Private equity firm BGH Capital, selling CyberCX, has not disclosed financial details.
Accenture declined to comment further, while BGH Capital did not respond to Reuters’ queries on valuation.
The deal highlights growing demand for cybersecurity services amid escalating global threats.
CyberCX, formed in 2019, merged 12 smaller firms backed by BGH Capital.
The Melbourne-based company employs 1,400 staff with operations in Australia, New Zealand, London, and New York.
CEO John Paitaridis previously led Optus Business, while CSO Alastair MacGibbon was Australia’s ex-cybersecurity coordinator.
CyberCX’s leadership links to Optus are significant following its 2022 breach exposing sensitive customer data.
Accenture has acquired 20 security firms since 2015, including Morphus, MNEMO Mexico, and Innotec Security.
In February, Accenture partnered with Telstra in a $700m deal to integrate AI capabilities.
The acquisition reinforces Accenture’s cybersecurity expansion as digital threats intensify globally. – Reuters