PricewaterhouseCoopers (PwC) Australia has strengthened its cyber security capabilities after striking a deal to acquire Sydney-based information security and risk management provider WebSecure Technologies Australia.
WebSecure Technologies specialises in implementing digital identity and privileged access management (PAM) solutions, providing an end-to-end offering, including licensing, implementation, maintenance and support, as well as ongoing operational managed services.
The firm counts the likes of CyberArk, SailPoint, Digital Guardian and Netskope among its vendor partners.
From completion of the acquisition, WebSecure will become part of PwC Australia in late 2021 and its brand will integrate fully to PwC.
The deal will also see WebSecure owner Stewart Sim join PwC Australia as a partner while also bringing a team of specialised engineers to the consulting firm – the WebSecure team will be integrated into PwC Australia’s cyber security and digital trust practice.
“We are thrilled for WebSecure to become part of PwC Australia and look forward to combining our capabilities and further building our alliance with CyberArk,” Sim said. “There is a strong synergy between our organisations, to drive growth and sustained business outcomes, as well as our shared commitment to building a secure digital Australia.
“Joining PwC Australia is the ideal fit that will allow us to continue our growth trajectory. Leveraging our position in the market with PwC’s cyber security and digital Identity offerings, plus access to the firm’s broad client network and global scale will enable us to accelerate our growth objectives for our clients and team,” he added.
The acquisition is expected to help strengthen PwC Australia’s cyber security capabilities, providing the local arm of the global consulting giant the ability to offer scale and a broader range of services to accelerate its managed service offerings for clients.
According to PwC, the demand for PAM services is set to rapidly increase, with the firm noting the recent announcement by the federal government that it would progress plans to mandate the Australian Signals Directorate’s (ASD) Essential Eight strategies for mitigating cyber security risk for all non-corporate Commonwealth entities – PAM is one of the eight strategies.
“I am delighted about our WebSecure acquisition,” said PwC Australia partner and trust and risk business leader Corinne Best. “The credentials of WebSecure as the longest-serving and largest boutique implementation partner of global security company CyberArk are impressive.
“This acquisition continues to strengthen our scale and end-to-end cyber security 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.
“Responding to the fast-moving and continuously evolving cyber threat landscape is more important than ever before."
"Our clients need constant innovation and ingenuity to respond to critical cyber risks and our clients are telling us they prefer to source as many of these services as they can from a single service provider,” she added.
From PwC’s perspective, WebSecure claims significant equity in the market and, as such, suggests that by tapping into the provider’s brand equity in the space it will enter the local PAM sector as a leading CyberArk partner.
With this deal, PwC Australia hopes to rapidly grow its cyber security and digital trust practice to service priority clients and further grow its Skilled Service Hub in Adelaide.
“We are excited about the opportunity to work alongside WebSecure, leveraging our talent acquisition capability to grow the practice as well as this much-needed skillset,” said Mike Cerny, PwC Australia digital identity partner and cyber security and digital trust leader. “PAM, and in particular CyberArk skills, are core to our cyber security growth strategy in Australia.
“Across Australia, the estimated number of CyberArk engineers with more than five years experience is around 50 resources in total. 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,” he added.
PwC Australia revealed in March this year that it would open its IT operations centre in Adelaide, South Australia, with the new facility offering capabilities in cyber security, cloud and financial audit services.
“We are making a significant investment in growth to meet the rising demand for skills in cyber, cloud and assurance services, plus increasing our capacity onshore to address data sovereignty and security concerns,” said Tom Seymour, CEO of PwC Australia, said at the time.