Cybercrime is becoming increasingly problematic for companies and governments globally, as a range of digital avenues and developing adversaries tap into systems to extract a range of value. As costs grow, companies are turning to consultancy firms for advice. In a bid to meet demand, as well as access relevant certifications, Accenture recently acquired US-based Defense Point Security for an undisclosed sum.
The cyber security space has seen considerable growth in recent years, as cyber criminals take advantage of increasingly sophisticated tools and slow responses from businesses and governments. Globally, cybercrime costs society more than $400 billion per year, with up to 500,000 incidents per day recorded.
In a bid to support companies defend their digital frontiers, consultancy firms are bolstering their practices and buying up companies to boost those practices inorganically, to meet market demand. Recent deals include Accenture’s acquisition of Maglan and Redcore; PwC’s acquisition of Everett; BDO’s acquisition of Secoz; and EY’s Mycroft deal.
Accenture, to further bolster its cyber security capabilities following recent acquisitions, is acquiring Defense Point Security (DPS) for an undisclosed sum. DPS is one of the larger privately owned cyber security firms in the US. The company, founded in 2007 and situated in Alexandria, Virginia, provides cyber security services to both commercial clients and the Federal Government, leveraging a host of certificates to meet Federal requirements, including HIPAA, PCI, FISMA and NIST.
The deal adds a range of additional capacities to Accenture’s cyber security offering, particularly to US federal government clients. Besides key certifications, the add-on provides the firm with a “suite of advanced detection, engineering and operations services, as well as expertise with cybersecurity consulting, Managed Security Services (MSS) and Big Data platforms”.
David Moskovitz, Chief Executive Office at Accenture Federal Services, says, “With the velocity and ferocity of cyber threats, DPS’ expertise in enhanced operational security and advanced security analytics will boost AFS’ ability to bring cutting-edge cyber solutions that will help federal agencies best protect their most valuable information.” He continues to say,“The addition of DPS’ specialised cyber defence tools and methodologies, together with our powerful client insights, will further propel our strategy to be a leading provider of end-to-end, federal enterprise security services.”
Defense Point Security's Chief Executive Officer George McKenzie adds, “The sophistication of cyber-attacks continues to increase. We are focused on evolving the defensive strategies and solutions to best address the rapidly evolving federal threat landscape. We are excited to join forces with Accenture Federal Services, and to work with its cyber team to address the pressing challenges facing our clients.”