Accenture plc (NYSE: CAN) purchased cybersecurity company Maglan. The acquisition will give Accenture the opportunity to leverage Israel's defense technology hub in order to expand the company's presence in the sector. Maglan's team has significant experience dealing with cyber crime and esponiage.
Maglan provides services related to offensive cyber simulation, vulnerability countermeasures, cyber forensics, malware defenses and threat intelligence. The target is based in Tel Aviv and was founded in 1998. As part of the acquisition, Accenture will set up a cyber fusion center in Israel which which will provide clients with cybersecurity research and consulting services. Accenture has similar centers in Bangalore, India, Manila, Philippines and Prague.
“The growing variety and velocity of cyberattacks today cannot be eliminated with standard off the shelf solutions,” says Accenture chief strategy officer Omar Abbosh. “Tackling the security problem from the perspective of the hacker is the name of the game.”
Accenture, which has U.S. headquarters in Chicago, has invested in the cybersecurity space before. The company’s previous investments include FusionX; Cimation; Endgame; and Team8. Financial terms of the Maglan deal were not disclosed.
The rising amount of cyber threats continues to make sector technology providers attractive targets. Cryptosoft bought DeviceAuthority Inc.; FireEye Inc. (Nasdaq: FEYE) purchased iSight Partners; and Symantec Corp. (Nasdaq: SYMC) is preparing to acquire Blue Coat Systems Inc.