PwC Australia has announced it has acquired Sydney-based IT security and risk management provider WebSecure Technologies for an undisclosed sum.
The big four firm said acquisition bolsters its cybersecurity capabilities, specifically with Privileged Access Management (PAM) solutions, while offering scale and broader services to its overall managed service offering.
As a boutique CyberArk implementation partner, WebSecure also bolsters PwC’s security practice with experienced CyberArk specialists, which the latter said was in a chronic shortage.
“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,” PwC Australia partner and trust and risk business leader Corinne Best said.
“I am delighted about our WebSecure acquisition. 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 Cybersecurity 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.”
PwC added that it expects to see demand for PAM services to increase following the Australian Government’s plan to mandate the Australian Signals Directorate’s (ASD) Essential Eight strategies.
As part of the deal, WebSecure owner Stewart Sim will join PwC Australia as a partner, along with a team of specialised engineers. WebSecure’s team will be integrated into PwC Australia’s Cybersecurity and Digital Trust practice. The company will officially become part of PwC Australia in late 2021 with its brand fully integrated under PwC.
Sim said of the acquisition, “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. 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 Cybersecurity 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.”
PwC has been on a cybersecurity investment spree with the WebSecure acquisition as the latest move, including the recent hires of experienced security specialists to its management team.
The company in August named former TransGrid CISO Garry Bentlin as its new cybersecurity and digital trust partner, where he is tasked to work with both Government and critical infrastructure sectors.
Other recently appointed partners were brought in a few days prior, including former Australian Risk Policy Institute (ARPI) director Pip Wyrdeman and former Deloitte cybersecurity lead Richa Arora.