Acquisition accelerates growth and market presence of Accenture Security in Spain
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.
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Accenture 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. (Graphic: Business Wire)
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.
Forward-Looking Statements
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Accenture is a leading global professional services company that helps the world's leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services-creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 733,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world's leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy Consulting, Technology, Operations, Industry X and Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at www.accenture.com.
Accenture Security is a leading provider of end-to-end cybersecurity services, including strategy, protection, resilience and industry-specific cyber services. We bring security innovation, coupled with global scale and a worldwide delivery capability through our network of Cyber Fusion Centers. Helped by our team of highly skilled professionals, we enable clients to innovate safely, build cyber resilience and grow with confidence. Visit us at accenture.com/security.
*Gartner, Market Share: Managed Security Services, Worldwide, 2022, April 2023. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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Accenture
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Accenture
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