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Broadcom has announced the sale of Symantec’s Cyber Security Services to consultancy giant Accenture. The chip manufacturer took over Symantec’s entire business divisionin August last year and is now divesting part of it.

Broadcom paid 10.7 billion dollars (9,6 billion euros) for Symantec’s business portfolio last summer, after it also incorporated CA Technologies for 18.9 billion dollars (17 billion euros) in 2018, taking its first steps into the software market.

Managed services

Now that the deal has been completed, Broadcom is selling part of its latest acquisition. The chip manufacturer is only interested in software and apparently has little interest in Symantec’s Cyber Security Services. It is, therefore, selling the managed security activities to Accenture.

Cyber Security Services includes global threat monitoring and analysis with real-time industry-specific threat intelligence and incident response services. The division employs more than 300 people worldwide and serves large organisations in a variety of industries.

Accenture strengthens position

The acquisition makes Accenture Security one of the most important suppliers of managed security services. “This acquisition is a game-changer and will help Accenture offer flexibility rather than a one-size-fits-all approach to managed security services,” said Kelly Bissell, senior managing director at Accenture Security. “With Symantec’s Cyber Security Services, we can now offer customers our combined expertise tailored to their industry.”

It is not known how much Accenture is paying Broadcom for the acquisition. In 2019, Accenture invested a total of USD 1.2 billion in 33 strategic acquisitions. The acquisition of Symantec’s Cyber Security Services is expected to be completed in March of this year.