Two months after closing its deal to buy Symantec's enterprise security business for $10.7 billion, Broadcom announced Tuesday it was selling it to Accenture for an undisclosed sum.
Accenture said the deal would make its Accenture Security unit a leading managed services provider by enhancing its ability to help companies "rapidly anticipate, detect and respond to cyber threats."
Accenture is picking up Symantec's cyber security portfolio, which includes threat monitoring and analysis via a global network of security operation centers (SOCs), real time adversary and industry-specific threat intelligence and incident response services.
Symantec's six security operations centers are located in the U.S., the United Kingdom, India, Australia, Singapore and Japan. Its managed security services business is supported by a proprietary cloud-based platform that delivers cyber adversary threat intelligence through a customizable portal.
“Cybersecurity has become one of the most critical business imperatives for all organizations regardless of industry or geographic location,” said Julie Sweet, Accenture’s CEO, in a statement. “With the addition of Symantec’s Cyber Security Services business, Accenture Security will offer one of the most comprehensive managed services for global businesses to detect and manage cybersecurity threats aimed at their companies.”
Broadcom's decision to offload Symantec is puzzling given that just last month CEO Hock Tan said during the company's fourth quarter earnings call that Broadcom expected increased revenues this year by integrating Symantec Enterprise Security, according to a story by FierceElectronics.
The deal with Accenture is scheduled to close in March once its passes the customary closing conditions.