- Companies across the globe could incur US$5.2 trillion in additional costs and lost revenue over the next five years due to cyberattacks, reveals Accenture research.
- With the acquisition of Deja vu Security, Accenture would be able to capitalize on the rising demand for IoT security services.
Global accounting giant Accenture has acquired Deja vu Security, a company that provides security design and testing of enterprise software platforms and Internet of Things (IoT) technologies, for an undisclosed sum.
With this acquisition, the Seattle-based company has become part of Accenture Security’s Cyber Defense offerings.
Founded in 2011, Deja vu Security offers services to help organizations integrate security throughout the product development lifecycles.
“Deja vu Security’s team of innovative specialists brings considerable technical cybersecurity skills, making them a strong strategic fit, and will help our clients reduce the risk of their connected solutions. We are very excited to welcome the Deja vu Security team to Accenture,” said Kelly Bissell, senior managing director of Accenture Security.
Global IoT security market revenues are expected to increase at a compound annual growth rate (CAGR) of 33.7 percent between 2018 and 2023, according to industry analyst MarketsandMarkets.
With the acquisition of Deja vu Security, Accenture would be able to capitalize on the rising demand for IoT security services.
Companies likely to face heavy revenue losses due to cyberattacks
Owing to cyberattacks, companies across the globe could incur US$5.2 trillion in additional costs and lost revenue over the next five years, a recent Accenture research predicted.
The research found that dependence on complex internet-enabled business models is outpacing the ability to introduce adequate safeguards that protect critical assets.
Despite the growing cybersecurity risk, IoT security controls often remain an afterthought for many technology companies, third-party suppliers and consumers alike.
Kelly Bissell, however, noted that security should be built in from the start for any new products, processes or services.
Meanwhile, Adam Cecchetti, Deja vu Security’s chief executive officer, considers this acquisition as new chapter for Deja vu Security and our employees.
“Accenture’s people-focused culture and innovative mindset are core values that both companies share, and our unique capabilities complement each other perfectly,” he said.