Multinational consultation giant Accenture announced its acquisition on Monday of Israeli cyber company Maglan Information Defense Technologies Group, which will become Accenture’s development center in Israel. Founded in 1998 by managing director Shai Blitzblau, the Israeli company is one of Israel’s most veteran cyber companies. The price of the deal was not disclosed.
A $70 billion company
Accenture specializes in business and technological consultation. The company, which is listed on NASDAQ at a $70 billion market cap, had revenues totaling $30 billion over the past year. Accenture is active in more than 200 cities throughout the world in 55 different countries, with a staff of over 373,000 employees, including 6,300 at management level. The company’s customers include 94 of Fortune’s list of the world’s 100 largest companies.
Following the acquisition, Maglan will become Accenture’s second development center, and will build services in various cyber segments for Accenture’s customers. The new center will be Accenture’s second office in Israel; the first was founded in 2002 in Herzliya.
This is also not Accenture’s first investment in Israeli cyber technologies. Three months ago, the company took part in a $22 million financing round conducted by the Team8 Israeli cyber incubator, which was founded by former senior officers in the famous IDF Intelligence Unit 8200. The most recent investment was Accenture’s fifth in recent months.
Maglan provides technical consultation and auditing in information security, internet intelligence, and cyber warfare for commercial concerns and security agencies. Maglan’s business involves advanced information security testing, including attempts at breaking into customers’ computer systems, research studies (both independent and commissioned), computer investigations, and detecting and preventing industrial espionage.
Responding to the acquisitions, Blitzblau said, “Over almost two decades, we have succeeded in developing prodigious research and development capabilities. We have helped enterprises in a broad range of industries to adopt active cyber warfare approaches in a world of growing threats.” Blitzblau added, “We are excited about combining forces with Accenture and working together with the cyber center here in Israel and the company’s cyber centers around the world.”