Accenture acquires Maglan, expands security services in Israel

Accenture announced June 20 it has acquired Maglan, a privately-held Israeli cybersecurity company specializing in offensive cyber simulation, vulnerability countermeasures, cyber forensics and malware defenses, and IT security research and development with a focus on threat intelligence. Financial terms of the transaction were not disclosed.

The acquisition brings to Accenture a team of highly skilled cybersecurity professionals, who honed their skills fighting cyber crime and confronting cyber espionage around the globe. The acquisition advances Accenture’s strategy of leveraging Israel as a cybersecurity innovation hub to provide clients with cross-industry cyber defense consulting. Maglan has specialized tools and methodologies that will augment Accenture’s full range of security services and defensive countermeasures, comprising strategy and risk management through enterprise and extended enterprise security.

“The growing variety and velocity of cyber attacks today cannot be eliminated with standard off-the-shelf solutions,” said Omar Abbosh, chief strategy officer, Accenture. “Tackling the security problem from the perspective of the hacker is the name of the game. That’s why we are actively pioneering fundamentally differentiated approaches to cyber attack simulation, threat modeling, cyber investigations and security risk advisory services. With this acquisition, we are now able to further tailor services to our clients’ ever-changing security needs.”

Based in the Tel Aviv metropolitan area, Maglan was founded in 1998 and has performed extensive penetration tests for numerous organizations in Europe. Its clients include companies in the financial services, telecommunications and automotive industries.

“Whether due to spear phishing, malware or ransomware or a combination, the sophistication in attack vectors and cyber espionage is increasing,” said Shai Blitzblau, Maglan president and co-founder. “For nearly two decades, we have built robust security R&D capabilities and helped organizations across a broad range of industries adopt active cyber intelligent-driven approaches to address the rapidly evolving threat landscape and defensive mechanism. We are excited to join forces with Accenture worldwide, and to work with its cyber team here in Israel and across its network of Cyber Fusion Centers.”

The capabilities of Maglan will also form the core of a future Accenture Cyber Fusion Center in Israel and support Accenture around the globe. These state-of-the-art centers are dedicated to providing clients with one-stop access to a unique fusion of inter-disciplinary capabilities ranging from innovation and incubation to strategic consulting and transformation, to the managed delivery of a broad range of cybersecurity services. Accenture is continuing to expand its network of Cyber Fusion Centers and recently introduced a new location in Bangalore, India, joining existing facilities in Manila and Prague.

With this acquisition, Accenture has now made a total of the five investments in the cybersecurity space in the past several months. Earlier investments include the acquisition of acquisition of FusionX, a company with a 20-year cyber defense legacy; the acquisition of Cimation, an affiliate of Audubon Companies and an Industrial Internet of Things consulting company; a minority investment in Endgame Inc., a provider of cybersecurity software solutions; and a minority investment in Team8, a cybersecurity foundry.

Source: Accenture