Accenture (NYSE: ACN) has agreed to acquire a majority stake in Dragos and 100% of runZero and NetRise at a combined enterprise value of approximately $4.175 billion, according to a company press release. The transactions are expected to close in August or September 2026, subject to regulatory approvals.

Dragos, headquartered in Hanover, Maryland, with 580 employees, specializes in operational technology (OT) cybersecurity. RunZero, based in Austin, Texas, with 66 employees, focuses on asset intelligence and exposure assessment. NetRise, also based in Austin with 57 employees, provides device security and software supply chain security.

Together, the three companies are estimated to generate approximately $208 million in annual recurring revenue as of June 2026, representing 53% year-over-year growth. Accenture said the acquisitions are initially expected to be dilutive but accretive to earnings per share and free cash flow over time.

Dragos will continue to operate as an independent business under co-founder and CEO Robert M. Lee. HD Moore of runZero and Thomas Pace and Michael Scott of NetRise will become Dragos executives.

Accenture said its cybersecurity business generated $10 billion in revenue in fiscal year 2025, up from $700 million in 2016, representing a 35% compounded annual growth rate. The company said it is already an established participant in an estimated $7 billion OT cybersecurity services market and sees the broader OT cybersecurity market as an estimated $27 billion opportunity in 2026, projected to grow to nearly $59 billion by 2031.

"The addition of Dragos, complemented by runZero and NetRise, fills this important need," said Julie Sweet, chair and CEO of Accenture. "We are confident Dragos' differentiated OT platform will accelerate our growth in the critical infrastructure and industrial operations markets."