Accenture (NYSE: ACN) has announced three moves in the Israeli cybersecurity and fintech scenes. The first is that Accenture has acquired Israeli cybersecurity company Maglan. Maglan specializes in offensive cyber simulation, vulnerability countermeasures, cyber forensics and malware defenses, and IT security research and development with a focus on threat intelligence. Financial terms of the transaction were not disclosed.
Accenture said that the acquisition advanced its strategy of leveraging Israel as a cybersecurity innovation hub to provide clients with cross-industry cyber defense consulting. Maglan has specialized tools and methodologies that will augment Accenture’s full range of security services and defensive countermeasures, comprising strategy and risk management through enterprise and extended enterprise security.
“The growing variety and velocity of cyber attacks today cannot be eliminated with standard off-the-shelf solutions,” said Omar Abbosh, chief strategy officer, Accenture, “Tackling the security problem from the perspective of the hacker is the name of the game. That’s why we are actively pioneering fundamentally differentiated approaches to cyber attack simulation, threat modeling, cyber investigations and security risk advisory services. With this acquisition, we are now able to further tailor services to our clients’ ever-changing security needs.”
Maglan was founded in 1998 and has performed extensive penetration tests for numerous organizations in Europe. Its clients include companies in the financial services, telecommunications and automotive industries.
Accenture added in its announcement that the capabilities of Maglan will also form the core of a future Accenture Cyber Fusion Center in Israel and support Accenture around the globe. Accenture recently introduced a new location in Bangalore, India, joining existing facilities in Manila and Prague.
In addition to the acquisition of Maglan, Accenture also officially inaugurated its new Cybersecurity R&D Lab in Israel today. The Accenture Lab will focus on unique cybersecurity R&D projects in advanced threat intelligence, active defense and Industrial Internet of Things security by applying the latest developments in artificial intelligence, blockchain and advanced analytics from across Accenture’s global network of labs and innovation centers.
The announcement was made at the 6th Annual International Cybersecurity Conference taking place during Israel’s Cyber Week, which runs June 19 to 23.
The custom-built facility features a unique immersive environment for clients to experience for themselves how innovative and disruptive new approaches will help take their cyber capabilities to the next level. It is equipped with a combination of collaborative research areas and other dedicated spaces designed to showcase cutting-edge prototypes that enable rapid development of leading cyber solutions.
Additionally, the Lab will operate the Accenture Open Innovation program that collaborates with venture capitalists, start-ups and universities.
“This is another significant step for the Accenture Labs and Accenture Security. The newest Lab will take advantage of our global footprint and ecosystem partners in cybersecurity to give clients unparalleled access to emerging, intelligence-driven threat identification solutions and post-attack remediation procedures,” said Lisa O’Connor, managing director, Accenture Labs Security R&D.
This Cybersecurity R&D Lab is collaborating with Israeli cybersecurity foundry Team8 to explore disruptive security technologies that will advance the fields of mission-focused security, active defense and Industrial Control Systems.
“While cybersecurity has become a worldwide issue, Israel’s cybersecurity expertise is well recognized globally as a hotbed of security innovation and talent,” said Nadav Zafrir, Team8 co-founder and CEO, and former Commander of Israel’s Technology & Intelligence Unit 8200. “We see significant opportunities to ideate with Accenture in exciting new ways to deliver integrated cybersecurity capabilities that allow organizations to shift the balance from reactive to proactive security operations.”
Thirdly, Accenture has joined a new hub of financial technology (fintech) start-ups based in Tel Aviv dubbed “The Floor.” As a supporter, Accenture will evaluate potential innovations for its clients and potentially its own strategic investments, while mentoring start-ups and strengthening its ties to the growing Israeli technology community.
The Floor was founded this year with support from institutions, including Banco Santander, HSBC, Intesa Sanpaolo and RBS, and from Intel Corporation. It offers fintech entrepreneurs and start-ups a platform to collaborate with financial services institutions, technology companies and venture capitalists.
Published by Globes [online], Israel business news - www.globes-online.com - on June 20, 2016
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