BGH Capital is set to sell Australian cybersecurity provider CyberCX to Accenture in a deal reported by the Australian Financial Review to be worth more than AUD1bn ($650m), marking the global consultancy’s largest-ever acquisition in the sector.
Melbourne-based CyberCX was created in 2019 through the BGH-backed merger of 12 smaller cybersecurity firms. Under private equity ownership, the business has expanded to employ around 1,400 staff, operate security operations centres across Australia and New Zealand, and open offices in London and New York.
The sale comes amid surging demand for advanced cyber defences following a series of high-profile Australian data breaches, including incidents at Optus, Medibank and Qantas. CyberCX’s leadership team includes CEO John Paitaridis, formerly managing director of Optus Business, and Chief Strategy Officer Alastair MacGibbon, Australia’s former national cybersecurity coordinator.
Accenture has made more than 20 security acquisitions since 2015, with CyberCX representing a significant expansion of its capabilities in the Asia-Pacific region.
