Accenture (NYSE: ACN) has acquired Innotec Security, a privately held company specializing in cybersecurity-as-a-service, cyber resilience and cyber risk management, expanding its capabilities and footprint in Spain. Innotec Security was previously owned by parent company Entelgy Group. Financial terms were not disclosed.
Founded in 2002 and headquartered in Madrid, Spain, Innotec Security is one of the most prominent cybersecurity service providers in the Spanish market. The acquisition of Innotec Security—which also has a presence in Barcelona, Seville and the Basque Country—will add 500 cybersecurity professionals to Accenture Security’s workforce of 20,000 professionals globally, making Accenture Security one of the top managed security services (MSS) players in Spain.
Innotec Security provides a range of cybersecurity services, including threat simulation, detection, response and incident management, cyber intelligence, infrastructure and application security, cyber risk assessment, and security consulting. The company’s clients include large organizations operating in Spain across sectors such as financial services, energy, logistics, healthcare, transportation and the public sector.
“Our clients count on us to help them better protect and defend their enterprises across their entire ecosystem. Innotec Security is an excellent and well-regarded company in Spain with a highly skilled cybersecurity team, which will significantly enhance our security footprint in the market,” said Paolo Dal Cin, global lead of Accenture Security. “Importantly, this acquisition will also expand our regional capabilities and resources and help us address the growing demand we’re seeing for managed security services across Europe.”
The acquisition further expands Accenture’s ability to provide clients with much-needed cybersecurity skills and expertise. According to Accenture’s Cyber-Resilient CEO report, 70% of CEOs in Spain from large organizations (revenues > US$1 billion) are concerned about their organizations’ ability to avert or minimize damage to the business from a cyberattack. Yet nearly two-thirds (63%) of CEOs said their organizations don’t incorporate cybersecurity into business strategies, services or products from the outset.
“We’re delighted to welcome Innotec Security’s talented team to Accenture Security as we build on our established market leadership in cybersecurity services,” said Agustín Muñoz-Grandes, who leads Accenture Security in Spain and Portugal. “With the acquisition of Innotec Security, we are materially expanding our presence in Spain and adding to our robust MSS capabilities and the in-demand cybersecurity skills we offer clients both locally and globally.”
Félix Muñoz, CEO of Innotec Security said: “Our strategy has always been to deliver exceptional cybersecurity services to our clients and to be one of the best companies to work for. Accenture’s industry-focused approach to cyber defense and its company culture is a great fit for us. Becoming part of Accenture is an excellent opportunity for us to deliver even more value to our growing client base and we’re excited for the next steps on our journey together.”
Accenture recently ranked No. 1 in managed security services market share by revenue in the Gartner® Market Share: Managed Security Services, Worldwide, 2022 report, 18 April 2023 * and was named a Leader in the latest Forrester Research report on European managed security service providers.
Since 2015, Accenture Security has made 19 acquisitions. Following its January 2020 acquisition of Symantec’s Cyber Security Services business Accenture became one of the leading global providers of MSS. Accenture further strengthened its cyber defense and MSS capabilities in Europe through the acquisition of Sentor and Openminded in 2021 and in Latin America with the acquisition of MNEMO Mexico, Morphus and Real Protect.
Sourced from Business Wire