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The big four firm has acquired a Sydney-based IT security and risk management firm in an effort to bolster its take on privileged access management (PAM) services nationwide.
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PwC acquires IT and risk management firm
13 October 2021
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PwC Australia on Tuesday (12 October) announced that it will acquire WebSecure Technologies Australia, which the firm said it hopes will strengthen its cyber-security capabilities by offering a broader service set to clients.
PwC trust and risk business partner, Corinne Best, said responding to the rapidly cyber market in Australia has become more important than ever, and that the deal brings them closer to becoming a one-stop shop in the cyber-threat landscape.
“I am delighted about our WebSecure acquisition. The credentials of WebSecure as the longest serving and largest boutique implementation partner of global security company CyberArk are impressive,” Ms Best said.
“This acquisition continues to strengthen our scale and end-to-end Cybersecurity Advisory and implementation offering. With the WebSecure integration, we will have access to more skills, expertise and innovation which will allow us to deliver greater value and insight to our clients.”
WebSecure offers a “complete” end-to-end cyber solution to clients, which includes licensing, implementation, maintenance and support, and ongoing operational managed services.
The company is currently the longest-serving and largest boutique Australian partner of giant global security company, CyberArk.
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Client demand for PAM services, according to PwC, is set to rise after the Morrison government announced that it will move on plans to mandate the Australian Signals Directorate (ASD) Essential Eight strategies for mitigating cyber-security risk for all 98 non-corporate Commonwealth entities.
According to research conducted by Gartner, the PAM market is expected to swell to $2.9 billion in 2024, a 50 per cent increase on its size in 2018. Rather than build on PAM capabilities specifically, PwC decided to acquire them.
PwC Australia digital identity partner and cybersecurity and digital trust leader, Mike Cerny, welcomed the acquisition, which he said will bring a much-needed skill set over to the firm.
“Across Australia, the estimated number of CyberArk engineers with more than five years experience is around 50 resources in total,” Mr Cerny said.
“The acquisition means PwC Australia will hold one of the largest shares of that market, providing the foundations for us to grow a new wave of CyberArk specialists.
“WebSecure also brings intellectual property and capabilities in CyberArk licensing, implementation and managed services which together with PwC will create the most comprehensive PAM capability in the Australian market.”
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