Accenture (ACN) to Acquire Australia's Redcore; Terms Not Disclosed

August 22, 2016 5:59 PM EDT

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Accenture (NYSE: ACN) has entered into an agreement to acquire Redcore, a privately held Australia-based consulting company that specializes in providing identity and access management services (IAM), as well as security services for Cloud, network management, public key infrastructure, cyber defense, applications and the internet of things.

The acquisition is subject to customary closing conditions. Financial terms are not being disclosed.

As part of its offerings, Redcore develops holistic authentication, authorization and administration services across a range of cloud, web, mobile and adaptive access-management technologies. Redcore has deployed multiple large-scale cybersecurity solutions, including multi-factor authentication and secure application gateways that are used by some of the major Australian banks and government agencies.

“The acquisition of Redcore will allow us to expand our existing IAM services and security-as-a-Service capabilities – along with other critical cyber defense services – while also immediately extending our leadership position in the Asia-Pacific region,” said Kelly Bissell, managing director, Accenture Security. “Redcore has a team of seasoned security leaders who have exceptional security skills and industry knowledge. Together, we will be better positioned to tailor intelligent security services to organizations’ unique businesses and industries and deliver innovative solutions that help build business resilience from the inside out.”

Redcore, with its headquarters in Melbourne, Australia, provides security services and IT service management for a wide range of clients, including government agencies and companies across the finance, health, retail and telecommunications industries. Founded in 2010, Redcore has multiple offices in Australia, India, New Zealand, the Philippines and Singapore and has approximately 130 security professionals.

Joseph Failla, co-founder, Redcore, said, “We are excited to become part of Accenture Security and to bring our proven deep, highly-specialized skills and services to strengthen Accenture’s IAM and other cybersecurity offerings. We are very proud of Redcore’s wonderful team and our achievements, and we now look forward to creating an unrivalled combined cybersecurity team and launching capabilities that will change the market. With Accenture’s extensive global security resources, its methodologies and its interdisciplinary security ecosystem of innovators from across the world, we will be able to rapidly advance Redcore’s capabilities and innovate leading-edge solutions for clients, as well as provide excellent opportunities and career paths for our employees."

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