Deloitte Australia has acquired cyber security services provider ParaFlare in a whole-of-business transaction to bolster its cyber security standing.
The transaction sees nearly 80 people join Deloitte, including ParaFlare’s founders, CEO Adam McCarthy and CTO Frank Stanucci, who will be given the roles of partner.
According to Deloitte, ParaFlare will keep the same team and approach to active defence but will now be backed by Deloitte's global scale to improve response time when breaches are found.
Santucci said ParaFlare has worked with Deloitte for several years, with both companies having similar values and work ethics.
“ParaFlare’s partnership with Deloitte provides a strong platform which both companies can build on to accelerate growth in the emerging managed detection and response market and across national security to provide the highest level of cyber protection to clients,” he said.
Meanwhile, Deloitte Australia CEO Adam Powick said bringing on board ParaFlare will “enable us to bring truly world class, market leading capability to service our clients’ cyber security needs”.
“We’re proud to be joining with a sovereign business that is as dedicated as we are to defending against cyber threats and contributing to our national security,” he added.
The terms of the transaction have not been disclosed.
Deloitte's whole-of-business transaction for ParaFlare comes less than a month after it brought in data and product lifecycle management provider d-twin into the fold back in July.