Accenture to buy former Symantec services unit from Broadcom
Consulting giant Accenture has agreed to buy a cybersecurity services business from Broadcom Inc. that had been part of Symantec's enterprise division.
Accenture is buying the unit, which has 300 employees, for an undisclosed sum. The deal is expected to close in March, according to a statement provided to Bloomberg news.
Broadcom acquired the unit as part of its $10.7 billion deal to buy Symantec's enterprise software division last year.
The sale fits with Broadcom Chief Executive Officer Hock Tan's strategy of acquiring and keeping what he calls "franchises" - parts of companies that can maintain a high share in a profitable market without excessive investment - while quickly jettisoning any components that don't fit with his plans.
Accenture, which already runs a large cybersecurity group, will now gain a trove of valuable data from Symantec.
The data, or telemetry as it is referred to in the cybersecurity world, is acquired from Symantec's various products and services that protect consumers and enterprises from hackers. As people and business are targeted by hackers, those products accumulate granular detail on the methods and tactics employed by hackers. Telemetry from Symantec's services will give Accenture even more insight into how hackers are operating and the potential threats to its customers.
The data is useful for a company such as Accenture, which doesn't mass-market cybersecurity products. Instead, Accenture devised tailored solutions for its clients individually, according to its website.
"With the addition of Symantec's cybersecurity 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," Accenture CEO Julie Sweet said in the statement.
The acquisition will add to what Accenture already offers as part of its cybersecurity business: managed security services, security operations centers, and threat intelligence. The unit includes six security operation centers, according to the statement announcing the deal.