Accenture to buy Australian firm CyberCX in its largest-ever cyber deal
Private equity firm BGH Capital is selling CyberCX. However, financial terms have not been disclosed. Neither Accenture nor BGH Capital immediately responded to Reuters requests for comment on the reported valuation.
The deal comes amid a global surge in cases of cyberattacks, as companies from healthcare to finance grapple with increasingly sophisticated threats that disrupt operations and compromise sensitive data.
Melbourne-based CyberCX was formed in 2019 through the merger of 12 smaller cybersecurity firms backed by BGH Capital.
The company now employs about 1,400 people and runs security operations centres across Australia and New Zealand, with offices in London and New York.
Since 2015, Accenture has completed 20 security acquisitions, including recent purchases of Brazilian cyber defense firm Morphus, MNEMO Mexico and Spain-based Innotec Security.
"Client demand for cybersecurity services is accelerating as data and digital environments become increasingly connected and heightened threats are exposed across operational value chains, supply chains and the enterprise," said Peter Burns, who leads Accenture's business in Australia and New Zealand.
($1 = A$1.5385)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
2 hours ago
- Daily Mail
Ex-Today sports presenter Alex Cullen's desperate bid to find a tenant for the home he has a huge mortgage on - after he was sacked by Nine and forced to move to Melbourne
Alex Cullen desperately slashed the price for his $1.9 million Summer Hill rental property from $1,800 to $1,500-a-week recently, after struggling to find a tenant. The ex-Today star, 44, was dumped by Nine earlier this year after he accepted a $50,000 payment from Adrian Portelli for calling him 'McLaren Man' live on air. Following his subsequent move to Melbourne, Alex struggled to find a tenant for his million-dollar Sydney investment property, finally securing one after five weeks of searching, reported The Daily Telegraph on Thursday. Alex was forced to progressively slash the price over several weeks before a tenant was willing to move into the house he has an eye-watering mortgage on. The media personality and his Nine Entertainment journalist wife Bonnie purchased the four-bedroom, two-bathroom property in 2020 for $1.9 million. Alex first listed the home for rent in early July after moving to Victoria when he landed a new gig on The Christian O'Connell Show for Melbourne's Gold 104.3. Built in 1912, the Queen Anne Federation dwelling has been carefully maintained and boasts classic features including stained glass windows, patterned ceiling finishes and archways. Highlights include timber flooring, original archways, decorative fireplaces and a wraparound verandah. There's also a well-appointed modern kitchen and a large backyard with a paved patio for alfresco dining. It comes after Alex revealed to Stellar magazine he was offered a gig on 7News after he was sacked by Nine. 'After everything went down, Seven were one of the first on the phone to say, "You have our support, and if you want to come back, we're a phone call away,"' he said. 'I can't tell you how much that meant to me and my family.' He went on to say he was excited to see some of his old colleagues at the network after previously working at Seven on shows including Sunrise and Sunday Night. 'It's not very nice being the story,' he said, adding: 'It's better telling the story.' Alex was dismissed from the Today show for accepting the $50,000 gift from controversial Block billionaire bidder Adrian. In January, the presenter was given the sizeable sum after he was the first media personality to use Adrian's self-proclaimed nickname 'McLaren Man' live on air, which resulted in him leaving Channel Nine. Alex's exit from Nine was announced by Today host Karl Stefanovic live on air. The scandal kicked off when Adrian had grown tired of his long-used nickname 'Mr Lambo' and offered the cash reward to the first person to use his new moniker on air, with Alex obliging on the Today show. Accepting cash, gifts or benefits to undermine journalistic independence, and improperly using a journalistic position for personal gain, are both breaches of the journalism code of ethics as defined by the Media Entertainment and Arts Alliance union. The ill-advised stunt led to Alex being suspended by Nine, and he did not appear on the show while the network investigated the payment. Nine's parting of ways with Alex went ahead despite Adrian's claim that the journalist intended for the money to be paid to charity all along. Network insiders also told Daily Mail Australia that the stunt could have been beneficial for the network and Adrian, if Alex had advised the promoter that, as a journalist, he was unable to accept any payment for making the comment on air. Adrian first received the unwanted nickname 'Mr Lambo' after turning up to a 2022 auction of popular house makeover show The Block in a yellow Lamborghini.
Reuters
6 hours ago
- Reuters
Investors react to US-Russia summit reaching no deal
NEW YORK, Aug 15 (Reuters) - U.S. President Donald Trump said on Friday that he and Russian President Vladimir Putin did not reach an agreement to resolve Moscow's war in Ukraine after a nearly three-hour summit in Alaska, though he characterized the meeting as "very productive." "There were many, many points that we agreed on," Trump said at a joint press conference with Putin. "I would say a couple of big ones that we haven't quite got there, but we've made some headway. So there's no deal until there's a deal." COMMENTS: ERIC TEAL, CHIEF INVESTMENT OFFICER, COMERICA, CHARLOTTE, NORTH CAROLINA: "The fact that there were no economic sanctions is a positive and markets should breathe a sigh of relief, but it doesn't appear as though a deal is in hand." "If anything, we see opportunity in the energy sector, as oil prices are at pretty low levels here and the prospect of sanctions on oil did not bear out. There could be a relief rally and that would be an opportunity to invest in energy as we head into higher seasonal demands and economic growth beginning to re-accelerate." "Gold and precious metals are likely to sell off because of being an asset class good for safety. Given concerns about inflation, they are a good buying point as well if any weakness." EUGENE EPSTEIN, HEAD OF TRADING AND STRUCTURED PRODUCTS, NORTH AMERICA, MONEYCORP, NEW JERSEY: "I don't think anybody expected it to be particularly specific or substantive. It's essentially a first step towards potentially something more. They both kind of said everything diplomatically. But it's more about the significance of the meeting as a whole, as opposed to the content of what they're saying. "Again, I don't think anybody really expected them to suddenly within a couple of hours come up with a very specific set of plans or any kind of blueprint to something. It basically was just showing their willingness to have continued talks to arrive at a conclusion that is beneficial for all parties. And I think this is just the first steps, and many more to come." "Basically, President Trump needs to go back to the European Union and relay what Putin has said. And then he's got to negotiate with Zelenskiy. For the most part, I think they've laid the groundwork for a deal. And my feeling is that it will probably get done, but there's probably a couple more steps. I'm thinking one of those steps will be Trump, Putin and Zelinski all meeting in the next month." "They will probably reach a deal in 30 days. I was kind of surprised that they didn't take any questions. So there's a little bit of disappointment in that, but until a deal is done, you can't really take any questions." "Overall, the markets will like it marginally because I think they've made some progress. But I don't think we will be up 400 points in Dow futures on Sunday night." JAMIE COX, MANAGING PARTNER, HARRIS FINANCIAL GROUP, RICHMOND, VIRGINIA: "Without Ukraine at the table, there was little chance for a peace accord. That Putin attended at all was significant, but he can't be seen ending the conflict while on American soil meeting with Trump."
Times
12 hours ago
- Times
‘Economic self-harm' leads to closure of UK's biggest bioethanol plant
Britain's biggest bioethanol plant is shutting down with the loss of 160 jobs after the UK-US trade deal opened up the market to cheaper imports from America. Vivergo Fuels, which is owned by Associated British Foods, said it had no choice but to close its site on the Saltend Chemicals Park near Hull after the government took the 'deeply regrettable' decision 'not to support a key national asset'. It had been seeking taxpayer support for the plant, which has been losing £3 million a month. Ben Hackett, the managing director of Vivergo Fuels, said: 'The government's failure to back Vivergo has forced us to cease operations and move to closure immediately. This is a flagrant act of economic self-harm that will have far-reaching consequences. This is a massive blow to Hull and the Humber.' The fate of a second bioethanol factory, Ensus UK, which operates at the Wilton International site near Redcar and is owned by Germany's CropEnergies, is also hanging in the balance. However, it remains in talks with the government over whether the plant, which employs about 100 workers, can continue as the UK's maker of CO₂ — a byproduct of bioethanol production that is used in everything from fizzy drinks to NHS operating theatres. Both companies have been warning of the risk of closure since Sir Keir Starmer's trade deal with President Trump in May cut to zero the UK's 19 per cent tariff on up to 1.4 billion litres of US bioethanol imports a year. That is roughly equivalent to the UK's entire annual consumption. On the insistence of the US president, who is keen to preserve American farming jobs, the prime minister agreed to a last-minute concession, blindsiding the two companies that make up Britain's bioethanol industry. They produce green fuel from non-food grade wheat that is used in E10 petrol — which is fossil-fuel petrol containing up to 10 per cent renewable ethanol, to lower its emissions. The companies also make animal feed. • Alistair Osborne: Unexpected extras in US trade deal The trade deal prompted months of negotiations over a potential bailout but Jonathan Reynolds, the business secretary, has now decided that he cannot justify propping up the sector with taxpayer subsidies. The news was broken to the companies in a meeting with Sarah Jones, the minister for industry. In a statement, the government said that it always took decisions in the national interest: 'That's why we negotiated a landmark deal with the US which protected hundreds of thousands of jobs in sectors like auto and aerospace.' It said it had 'worked closely' with the two companies since June 'to understand the financial challenges they have faced over the past decade, and have taken the difficult decision not to offer direct funding as it would not provide value for the taxpayer or solve the long-term problems the industry faces'. Paul Kenward, chief executive of ABF Sugar, has long said, even before the trade deal, that the sector's difficulties have been caused by government regulation that favoured US exporters. A spokesman for ABF said: 'We presented a clear plan to restore Vivergo to profitability within two years under policy levers already aligned with the government's own green industrial strategy. The government has thrown away billions in potential growth in the Humber and a sovereign capability in clean fuels that had the chance to lead the world. Jobs in clean energy will now move overseas.' • Tariffs blamed as Britain's exports to US drop to lowest since 2022 ABF, which has invested more than £700 million in Vivergo over the past decade, added: 'This plant should always have been profitable under the right regulatory environment, as similar plants in western Europe demonstrate.' The company, which said that its supply chain supports '4,000 livelihoods', was also 'hugely disappointed' that 'the press was informed of this decision before we were told — and before we had a chance to communicate to our staff'. Supporters of the government's decision pointed out that ABF, which also owns the retailer Primark, is controlled by the billionaire Weston family, who could have put in more funds. The government offered a possible reprieve to Ensus, which is ahead of Vivergo when it comes to CO₂ production, saying: 'We also continue to work up proposals that ensure the resilience of our CO₂ supply in the long term, in consultation with the sector.' Grant Pearson, chairman of Ensus UK, said that at the meeting with Jones, she confirmed that the government values 'our production of biogenic CO₂ which is a product of critical national importance. They are therefore looking at options to secure an ongoing supply of CO₂ from the Ensus facility.' He said, however, that it will 'take time' to agree 'an acceptable long-term arrangement'. The closure of Vivergo Fuels in Hull is more than the loss of a plant (Paul Kenward writes). It is a warning about how Britain risks closing itself off from the future fuels revolution, and how, in the process, UK PLC risks squandering a real opportunity to create high-quality green industrial jobs. For Hull, bioethanol should have been the start of a green industrial revolution: a hub for low-carbon fuels serving UK transport, shipping and aviation, with skilled employment, investment in infrastructure and growth for the region's farmers and suppliers. Instead, that future will now happen overseas — in countries with which Britain competes for increasingly scarce investment and growth. I am, of course, deeply saddened for our 160 colleagues who are losing their jobs, and for the thousands more across the supply chain — from the farmers at the 12,500 farms supplying our wheat to the hauliers, engineers and contractors whose livelihoods depend on the plant. They will no doubt be deeply frustrated, as I am, at the ministerial inaction that has led us to this point. • Sharon Graham: Path to green energy should not be littered with job losses Over the past decade ABF has invested more than £700 million in Vivergo, sustaining it through extended losses caused by policy distortions unique to the UK. Under competitive and stable market conditions, bioethanol could and should be a hugely profitable sector. All we needed from the government, since the shock of the trade deal that gave away the entire market to subsidised US competitors, was time-limited support to bridge the period until regulatory changes, already in line with the government's stated direction, were in place. For several years a UK-only regulatory loophole gave foreign producers an artificial price advantage in our own market. No other country applies such a rule to its domestic producers. Then, in May, the surprise removal of the 19 per cent tariff on US ethanol imports as part of the trade deal, done with no notice and no transition plan, made it impossible for UK plants to compete in their own market. If Vivergo had been in Rotterdam, where these distortions do not exist, it would be successful. The result of the refusal to support Vivergo is a message to investors that the UK is willing to cede sovereign fuel capabilities to overseas competitors, even in sectors directly aligned with its growth and net-zero priorities. The cost of doing business in UK regulated sectors is becoming too high, not because the industries lack potential but because unpredictable policy shifts and regulatory inconsistency make it too risky to commit long-term capital. This is about more than one plant. Future fuels, from sustainable aviation fuel to advanced biofuels, are a huge global growth opportunity. Other countries are locking in their share. In the US, a clear policy framework has driven record bioethanol output and exports, underpinned rural economies and attracted billions in private investment. Across the EU bioethanol production is growing. • Taxpayer will subsidise industry energy bills to help firms compete The UK could have been part of this story. Saltend Chemicals Park, where Vivergo is based, has the potential to generate £24.2 billion in GVA (gross value added) by 2050, rising to £50 billion with planned investments. That included a signed memorandum of understanding with Meld Energy for a £1.25 billion sustainable aviation fuel facility, projected to add £7.3 billion to the economy over its lifetime. But with Vivergo gone, the domestic ethanol supply this project depended on will no longer exist. That means the investment may now go abroad, along with the jobs, skills and growth it would have brought to the UK. The government had a clear window to safeguard a strategic industry and chose not to take it. Failing to act now sends the wrong message: that Britain is content to become an import-only market for the very fuels and technologies it will depend on to hit net zero. It signals to investors that they must factor in the risk that future policy changes or trade deals could abruptly undermine entire sectors — making every emerging clean energy industry, from sustainable aviation fuel to hydrogen, a more uncertain and risky investment. Vivergo's closure should not close the conversation, but unless the government acts now, the UK's green industrial future will be built abroad. The investment, jobs and skills that could have been anchored in places like Hull will instead flow to countries with clearer, more consistent regulatory regimes. Britain will end up importing fuels and technologies it could have produced at home, paying a premium for the privilege, and watching the economic opportunity of a generation slip through its fingers. Paul Kenward is the chief executive of ABF Sugar, parent company of Vivergo Fuels
