KPMG acquires cybersecurity business Cyberinc, adds 190 experts

Global professional services network KPMG has acquired cybersecurity business Cyberinc. The purchase sees the Big Four giant add 190 experts to its cybersecurity presences across the US, India, Australia, and the UK.

Silicon Valley-based Cyberinc has entered into an agreement to sell its Identity and Access Management business to KPMG. The practice provides cyber security solutions globally, and is the largest independent identity and access management (IAM) technology provider in the world. Amid growing demand in the cybersecurity space, KPMG has been expanding its capabilities and expertise. Recently, this also saw the hiring of cybersecurity expert David Ferbrache as the firm’s Chief Technology Officer.

Cyberinc offerings include secure, scalable, high performance security products that protect from cyber-attacks, and solutions that help enterprises transition to next generation access management systems. The firm boasts a team of 190 people globally, with significant presence in the US, India, Australia, and the UK.

The group’s sale will enhance KPMG's existing capabilities as a leader in information security consulting services, while also bolstering KPMG's talent and resources in the rapidly growing area of digital consumer identity and privileged user management, which are evolving security-focused capabilities to enhance important elements of customer-engagement. KPMG also enjoys a strong position with existing information security alliance partners Oracle and Sailpoint, which, along with KPMG's recently announced alliance with Ping Identity, will be further enhanced by the transaction with Cyberinc, which will enable information protection for large enterprises while pursuing new digital interactions and business transformations.

Lynne Doughtie, US Chairman and CEO of KPMG said of the deal, "Cyber security remains a top risk to organisations as threats grow in scale and cyber criminals develop new ways to access protected information. KPMG's identity and access management solutions team can assist clients, across all industries, protect their information and enable their digital strategies and growth plans."

Samir Shah, CEO of Cyberinc, added, "Over the last decade, Cyberinc's IAM business has risen to industry leadership position on the strength of some of the largest IAM deployments globally, investments in IP and an array of premium partnerships. I am very pleased that Cyberinc's truly world class team will continue this journey with KPMG. Cyber threats continue to accelerate and remain a top business risk. This transaction will allow us to sharply focus on Isla - our industry leading Malware Isolation Platform."

KPMG will be looking to use 2018 as an opportunity to further enhance its leadership position in the cybersecurity space. 2017 saw two of its major competitors both caught in cyber breach revelations, and its weakened reputation may present a major opportunity to add new business to its client base. Late in the year, Accenture, the sixth largest cybersecurity and security consultancy in the world, was found to have left a large cache of sensitive information without password protection on their cloud storage.

Earlier in 2017, the globe’s largest cybersecurity consultant, and one of KPMG’s Big Four competitors, Deloitte, was publicly embarrassed following the revelation that it had been victim of a major cybersecurity breach. According to sources close to the matter, hackers may have accessed usernames, passwords and personal details of the firm’s clients, in an attack that went unnoticed for months.