HomeData AnalyticsAccenture snaps up security outfit Deja vu to combat $5.2 trillion cyber threat

Accenture snaps up security outfit Deja vu to combat $5.2 trillion cyber threat

Professional services company Accenture has bought Seattle-based ‘security-of-things’ company Deja vu Security for an undisclosed fee, as it seeks to ramp up its cyber-security offer in the face of an estimated $5.2 trillion cyber-risk for global enterprises.

Deja vu Security specialises in security design and testing of enterprise software platforms and internet-of-hings (IoT) technologies. Founded in 2011, the firm claims to integrate security throughout the development lifecycle of IoT products.

Accenture said the acquisition will keep it ahead in the cyber-security innovation game, noting recent high-profile attacks show the risk of business disruption and financial loss from IoT vulnerabilities remain a constant threat.

Accenture calculates companies globally could incur $5.2 trillion in additional costs and lost revenue over the next five years due to cyber-attacks, as dependence on complex internet-enabled business models outpaces the ability to introduce adequate safeguards that protect critical assets.

Cyber-crime from a wide range of malicious activities poses significant challenges that can threaten business operations, innovation and growth, and the expansion into new products and services, ultimately costing companies trillions of dollars, said Accenture. The high-tech industry faces the highest risk, with more than $753 billion in the balance, followed by the life sciences and automotive industries, with S$642 billion and $505 billion at risk, respectively.

Omar Abbosh, leading Accenture’s communications, media and technology group, commented: “Internet security is lagging behind the sophistication of cyber-criminals and is leading to an erosion of trust in the digital economy.

“Strengthening internet security requires decisive – and, at times, unconventional – leadership by CEOs, not just CISOs. To become a cyber-resilient enterprise, companies need to start by bringing CISOs’ expertise to the board, ensuring security is built-in from the initial design stage and that all business managers are held responsible for security and data privacy.”

The deal for Deja vu Security will enhance Accenture’s offer to shore up IoT system vulnerabilities, it said.
 
Kelly Bissell, senior managing director at Accenture Security, said: “For technology companies, third-party suppliers and consumers alike, IoT security controls often remain an afterthought – which is why it’s critical that security is built in from the start for any new products, processes or services. Deja vu Security’s team brings considerable technical skills, making them a strong strategic fit, and will help our clients reduce the risk of their connected solutions.”
 
Adam Cecchetti, chief executive at Deja vu Security, commented: “Our unique capabilities complement each other perfectly. We are thrilled to be joining such a high-calibre global organisation.”

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