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Showing posts with label Accenture. Show all posts
Strategic Deal
Accenture Cyber Security Dragos Strategic Deal

Accenture Buys Cybersecurity Firms Dragos, runZero, NetRise for $4.18 Billion

 

In a landmark move to fortify its cybersecurity capabilities, Accenture has announced a $4.18 billion deal to acquire a majority stake in industrial cybersecurity leader Dragos, alongside full ownership of asset intelligence firm runZero and device security specialist NetRise. This strategic acquisition spree underscores Accenture’s ambition to expand beyond traditional consulting services and establish itself as a comprehensive provider of software-driven cybersecurity solutions, particularly for critical infrastructure sectors vulnerable to AI-powered cyber threats and geopolitical risks. 

The timing of the deal reflects both opportunity and necessity. While global consulting demand has softened—partly due to the ongoing Iran war impacting Middle East operations—cybersecurity remains a high-growth domain with surging client investment. Accenture, already operating a $10 billion cybersecurity business, sees industrial and operational technology (OT) security as a key frontier. By integrating Dragos’s OT threat monitoring, runZero’s real-time asset discovery, and NetRise’s embedded device security, the firm aims to deliver end-to-end protection for energy grids, manufacturing facilities, transportation systems, and other mission-critical environments increasingly targeted by state-sponsored and criminal hackers.

Dragos brings deep expertise in securing industrial control systems, with a platform widely used by utilities and heavy industries to detect and respond to OT-specific threats. runZero complements this with advanced asset intelligence, enabling organizations to maintain accurate, dynamic inventories of all connected devices—a foundational requirement for effective cybersecurity in complex, hybrid IT-OT environments. NetRise adds another critical layer by securing firmware and embedded systems, which are often overlooked but increasingly exploited attack vectors. Combined, these three companies contribute approximately $208 million in annual recurring revenue and significantly enhance Accenture’s software-led service portfolio. 

The transactions are structured to close by August or September 2026, subject to regulatory approvals and standard closing conditions. Accenture’s majority stake in Dragos—rather than full acquisition—suggests a collaborative approach that preserves the firm’s entrepreneurial agility while leveraging Accenture’s global scale and client network. Full ownership of runZero and NetRise, meanwhile, allows deeper integration into Accenture’s existing cybersecurity and cloud practices. This hybrid model reflects a broader industry shift where consultancies blend strategic partnerships with outright acquisitions to rapidly scale niche capabilities without disrupting innovation cultures. 

For the cybersecurity market, Accenture’s move signals intensifying competition among large professional services firms to capture share in the booming industrial security segment. Enterprises, especially in critical infrastructure, stand to benefit from more integrated offerings that combine strategy, implementation, threat intelligence, and managed services under a single provider. However, investor reaction has been cautious, with Accenture’s shares dropping over 13% following the announcement, partly due to weaker-than-expected quarterly guidance tied to geopolitical headwinds. Still, the $4.18 billion bet highlights Accenture’s long-term conviction that cybersecurity—particularly in the industrial realm—will remain a cornerstone of digital transformation and risk management in the AI era.
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enterprise cybersecurity
Accenture AI technology AWS Cyber Advancements Cyber Protection Cyber Security enterprise cybersecurity

UK Post Office Awards £410 Million Contracts to Replace Horizon System After Long-Running Scandal

 

Now beginning its largest tech overhaul yet, the UK Post Office handed out £410 million in contracts to Accenture and OneView Commerce. This shift follows years of public scrutiny tied to the flawed Horizon system. Known for fueling a historic wave of wrongful convictions, that earlier platform is being phased out slowly. Instead of repeating past mistakes, officials are betting on updated tools built for accuracy. Behind the scenes, work has already started on untangling old code. What comes next will depend heavily on how well new systems adapt under real conditions.

Taking charge under fresh contracts, Accenture steps into managing and shifting the Post Office’s current tech setup. Worth £269 million across half a decade, the deal includes room to stretch further by another pair of years if needed. Out goes Fujitsu - the firm behind the original 1990s build of Horizon, the system handling sales and money tracking at counters. Instead comes a push led by Accenture: keeping daily operations steady while refreshing essential programs, guiding change toward modern cloud-based systems within an overall plan to renew outdated digital tools. 

Now beginning, OneView Commerce wins a distinct deal worth £141 million to build a fresh tech foundation for retail operations. This setup runs through the cloud, aiming to refresh daily functions inside Post Office locations. Electronic cash handling, portable access points, interactive client systems, data insights, along with stand-alone service stations form part of the rollout. Running within AWS or an equivalent online infrastructure ensures flexibility. Custom adjustments fit specific workflow demands across different sites. Years of dispute preceded the removal of Horizon.

Launched in 1999, it managed money tasks in Post Office locations nationwide. Faults within the program created incorrect account balances. These flawed reports triggered accusations against numerous branch managers - many charged with stealing, dishonest recordkeeping, or deceit. From 1999 until 2015, roughly 736 people faced unjust legal actions due to data flaws in the technology. Lives unraveled as a result: savings vanished, reputations damaged, mental health weakened. 

Still ongoing, a public investigation begun in 2021 examines how the scandal unfolded. By 2025, results showed top figures at the Post Office, together with staff from Fujitsu and earlier ICL, were aware - or ought to have been - of flaws in Horizon causing faulty financial records. Lives shattered under pressure; suicides occurred, tied directly to legal actions and what followed after. What emerged was not just system failure but personal tragedy etched into official findings. 

Come May 2025, the Post Office dropped its plan to build a new system on its own. Instead, it opened up bidding to outside firms. Winning proposals came from Accenture and OneView Commerce. Firms like IBM and Escher Software also submitted bids during the selection round. Now comes a shift - fresh agreements signal serious commitment, not just to upgrade tools but to restore confidence across the Post Office network.

Instead of clinging to outdated setups, leaders choose next-generation cloud solutions to replace the long-troubled Horizon infrastructure. This time around, progress means fewer breakdowns, smoother daily operations. Past mistakes weigh heavily; avoiding them shapes every decision going forward.
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User Security
Accenture Data Breach Ransom Ransomware attack Security User Data User Privacy User Security

Cyber Firm: Ransomware Group Demanding $50M in Accenture Security Breach

 

The hacking group behind a ransomware attack on global solution provider powerhouse Accenture has demanded $50 million in ransom, as per the cybersecurity firm that saw the demand. 

According to a tweet from Cyble, a dark web and cybercrime monitoring company, the threat actor is seeking $50 million in return for more than 6 TB of data. 

On Thursday, Accenture responded it had no additional information to add to its statement, pointing CRN to a statement issued on Wednesday that claimed it had "contained the matter and isolated the affected servers" and that "there was no impact on Accenture's operations, or on our clients' systems." 

The hacking group apparently used LockBit ransomware to target Accenture, which is ranked No. 1 on CRN's Solution Provider 500 for 2021, in the attack revealed on Wednesday. 

As per Emsisoft, a cybersecurity firm located in New Zealand, LockBit is a ransomware strain that stops users from accessing infected devices until a ransom payment is completed. The incident arises after a ransomware assault on Kaseya in July, which involved a $70 million ransom demand to decrypt victim files. Kaseya later stated that it had acquired a decryptor for the REvil ransomware, but it had not paid the ransom. 

“At the end of the day, paying the ransom is never a good idea,” stated Douglas Grosfield, founder and CEO of Kitchener, Ontario-based Five Nines IT Solutions, in an interview with CRN. 

“The majority of folks that do end up paying the ransom don’t necessarily get all of their data back. And what you do get back, you can’t trust. There could be a payload there—a ticking time bomb—that will make it easier for the perpetrators to get in again.” 

He stated that ransomware groups targeting IT service companies such as Accenture is unsurprising. “The only surprise is that it took the bad guys this long to figure out that service providers are a pretty juicy target,” he added. 

According to Grosfield, the Accenture incident serves as a reminder of the proverb, "physician, heal thyself," which states that IT service providers must verify their own systems are safe to propose security solutions to their own clients. 

Accenture claims to have contained the assault, however, this is a questionable assertion. The firm confirmed the ransomware assault in an emailed response to a request for information from CRN but stated it had no impact on the organization. 

“Through our security controls and protocols, we identified irregular activity in one of our environments. We immediately contained the matter and isolated the affected servers. We fully restored our affected servers from back up. There was no impact on Accenture’s operations, or on our clients’ systems,” Accenture wrote. 

However, a CNBC reporter spoke on Wednesday that the hackers behind the Accenture attack uploaded over 2,000 files to the dark web, including PowerPoint presentations and case studies. 

On Wednesday, VX Underground, which claims to possess the Internet's largest collection of malware source code, tweeted a timer allegedly from the hacking group, indicating how the time until the attack on Accenture's data would begin. The timer's timer ultimately ran out. The LockBit ransomware gang published 2,384 files for a short period, according to VX-Underground, however, those files were unavailable due to Tor domain issues, most likely due to excessive traffic. 

The LockBit attack clock was restarted with a new date of Aug. 12, 2021, 20:43 UTC, or 4:43 p.m. ET Thursday, according to the group. 

The Accenture incident, according to Ron Bradley, vice president of third-party risk management firm Shared Assessments, is "a perfect example of the distinction between business resiliency and business continuity," he told Threatpost on Wednesday. 

“This particular example with Accenture is interesting in the fact that it was a known/published vulnerability,” Bradley continued. “It highlights the importance of making sure systems are properly patched in a timely manner. The ability for Accenture to manage the repercussions of potentially stolen data will be an important lesson for many organizations going forward.” 

According to Hitesh Sheth, president, and CEO of cybersecurity firm Vectra, all organizations should expect such assaults, but especially a global consultancy firm with many links. 

“First reports suggest Accenture had data backup protocols in place and moved quickly to isolate affected servers,” he informed Threatpost on Wednesday. “It’s too soon for an outside observer to assess the damage. However, this is yet another reminder to businesses to scrutinize security standards at their vendors, partners, and providers. Every enterprise should expect attacks like this – perhaps especially a global consulting firm with links to so many other companies. It’s how you anticipate, plan for and recover from attacks that counts.” 

LockBit encrypts files with AES encryption and generally asks a high-five-figure ransom to decrypt the data. LockBit's procedures are mostly automated, allowing it to operate with little human monitoring once a victim has been hacked, according to Emsisoft. It may be used as the foundation for a ransomware-as-a-service business model, in which ransomware authors can utilize it in exchange for a share of the ransom payments.
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