Accenture to acquire Sydney’s CyberCX — Capital Brief

The news: Global consultancy giant Accenture has agreed to acquire Sydney-based CyberCX to bolster its cybersecurity consulting offering.

The value and terms of the deal were not disclosed.

The context: CyberCX offers both cybersecurity services and consulting, with customers including Origin Energy, the AFL and The Star. It was established in 2019 via a merger of 12 smaller cybersecurity firms and funding from BGH Capital. It now has 1,400 employees, who will join Accenture.

CyberCX was founded and run by John Paitaridis, who remains CEO of BGH Capital’s technology portfolio. Prior to that he was a managing director at Optus and an executive director at Telstra.

It is the latest of several Australian companies to be bought by Accenture. The US$150 billion ($230.77 billion) consultancy, headquartered in Dublin, last year acquired marketing technology consultancy Lumery and in 2023 bought resources consultant ATI Solutions Group.

What they said: “We are immensely proud of the business we have built, becoming one of the leading providers of cybersecurity services in the region,” said John Paitaridis CyberCX’s chief executive.

“Joining Accenture’s global cybersecurity organisation enables our exceptional people to combine forces with global capabilities and provide world-leading cybersecurity services to an even greater number of clients across Asia Pacific.”

Paolo Dal Cin, global lead of Accenture Cybersecurity, added: “CyberCX and Accenture share a mission to harness the power of cyber to help our clients securely navigate change, accelerate business reinvention and build resilience against evolving threats”.