PwC Australia announced on Tuesday (October 12) that it will acquire WebSecure Technologies Australia, which the company says will enhance its cybersecurity capabilities by offering a wider set of services to clients.
Corinne Best, PwC’s trusted and risk business partner, said responding to Australia’s fast-paced cyber market has become more important than ever, and the deal brings them closer to becoming a one-stop shop in the cyber threat landscape.
“I am delighted with our acquisition of WebSecure. WebSecure’s credentials as the oldest and largest implementation partner of global security company CyberArk are impressive,” said Best.
“This acquisition continues to strengthen our scale and end-to-end cybersecurity consulting and implementation offering. With the integration of WebSecure, we will have access to more skills, expertise and innovation that will allow us to provide greater value and understanding to our customers.
WebSecure offers a “complete” end-to-end cyber solution to customers, which includes licensing, implementation, maintenance and support, and ongoing operational managed services.
The company is currently the oldest and largest Australian partner of giant global security company CyberArk.
Client demand for PAM services, according to PwC, is set to increase after the Morrison government announced it would implement plans to mandate the Australian Signals Directorate (ASD) Essential Eight strategies to mitigate cybersecurity risks for the 98 non-Commonwealth business entities.
According to research conducted by Gartner, the PAM market is expected to reach $2.9 billion in 2024, a 50% increase from its size in 2018. Rather than relying specifically on PAM capabilities, PwC decided to acquire them.
PwC Australia’s digital identity partner and cybersecurity and digital trust leader, Mike Cerny, welcomed the acquisition, which he said will bring a much-needed skill set to the business.
“Across Australia, the estimated number of CyberArk engineers with over five years of experience is around 50 resources in total,” Cerny said.
“The acquisition means that PwC Australia will hold one of the largest shares of this market, providing us with the foundation to develop a new wave of CyberArk specialists.
“WebSecure also brings CyberArk’s intellectual property and licensing, implementation and managed services capabilities which, together with PwC, will create the most comprehensive PAM capability in the Australian market.”