Accenture to Buy Australian Cybersecurity Firm BCT Solutions
Shares of Accenture plc ACN have gained 30% year to date, outperforming the 25.6% rally of the industry it belongs to.
The company has entered into an agreement to buy BCT Solutions, a Canberra-based privately held cybersecurity and technology company. Financial terms were not disclosed.
Founded in 2015, BCT specializes in command and control, cyber security, cyber defence services and expertise. The company supports the delivery of defence, national security and public safety mission-support capabilities. With around 50 staff, it has offices in Canberra and Brisbane.
How Will Accenture Benefit?
The acquisition is expected to strengthen Accenture’s Defence, National Security and Public Safety capabilities in Australia, benefiting its Health & Public Service segment. Revenues from this segment increased 4% year over year on a reported basis and 6% in terms of local currency, in the last reported quarter.
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Catherine Garner, who leads Accenture’s Health & Public Service practice in Australia and New Zealand, said, “BCT’s impressive experience and capabilities will enable us to enhance the services we provide to government agencies in Australia — ultimately helping improve the lives of citizens.”
Zacks Rank & Stocks to Consider
Currently, Accenture carries a Zacks Rank #3 (Hold).
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