Broadcom flips Symantec to Accenture Security

Symantec’s Cyber Security Services business has been purchased by Accenture Security from Broadcom, almost five months to the day from when the latter firm paid $11 billion for the unit.

Accenture announced the acquisition on January 7 which includes Symantec’s enterprise level business unit that operates six security operations centers located in the United States, UK, India, Australia, Japan and Singapore which handle global threat monitoring and analysis.

Financial details were not revealed, but Broadcom entered into an agreement to pay $10.7 billion for this division in August 2019 with the deal officially closing on November 4. Accenture did note in a statement on this purchase that it had spent $1.2 billion on 33 other acquisitions in 2019. So, if a similar price was paid this time it would make it Accenture’s largest financial move in recent months.

Accenture’s deal with Broadcom is subject to customer closing conditions but is expected to close in March 2019.

“This acquisition is a game-changer and will help Accenture provide flexibility rather than a ‘one size fits all’ approach to managed security services. With Symantec’s Cyber Security Services business, we can now bring clients our combined expertise fine-tuned to their industry with tailored global threat intelligence powered by advanced analytics, automation and machine learning,” said Kelly Bissell, senior managing director of Accenture Security.

Broadcom executives made similar statements in November when Symantec was fully brought on board and began operating as a unit of the processor and technology infrastructure company.

Broadcom has not yet responded to an SC Media inquiry regarding its decision to turn around and sell its recent acquisition.

When Symantec cut its deal with Broadcom it retained control of its device security, identity threat protection and privacy software that that is sold to consumers and small businesses. This segment of Symantec’s business provides the majority of the company revenue.

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