Ernst & Young, Australia has entered into an agreement to acquire cyber security consultancy, SecureWorx. The acquisition is intended to be completed on 1 September 2021 subject to conditions precedents being met.
The acquisition will strengthen EY Australia’s cyber security services offering to clients in responding to new mandatory requirements in the Security Legislation Amendment (Critical Infrastructure) Bill 2020 which increase the need for sovereign cybersecurity capabilities.
SecureWorx provides multi-cloud services, managed security operations and security advisory services, designed to cater to the needs of customers with sensitive information.
This includes 24/7 Security Operations managed services onshore in Australia with government cleared personnel and certified facilities.
Philip Mulley, currently the CEO at SecureWorx will join EY Australia as Sovereign Cybersecurity Leader, helping to transform our 24/7 security operations managed services capability.
Richard Bergman, EY Oceania Cybersecurity Lead Partner said:
“The latest updates to the Security of Critical Infrastructure Act outline new requirements that will require significant investment for onshore cyber capabilities to detect and combat threats.
“Threat volumes are rapidly increasing and now costing the Australian economy $29 billion per annum, according to recent Microsoft reports.
“SecureWorx has a set of cybersecurity assets that complement EY Australia’s existing cybersecurity team and capabilities including government accredited hosting facilities in Melbourne and Canberra and an accredited Security Operations Centre in Melbourne.
“SecureWorx complements and extends EY’s existing cybersecurity capabilities along with previous EY Australia acquisitions of Aleron and Open Windows.
“For our clients this will provide access to 24×7 Security managed services onshore in Australia with cleared personnel and facilities,” said Mr Bergman.
Philip Mulley from SecureWorx said:
“We have long admired EY Australia and in particular the work of their cyber security team. Joining EY Australia gives us access to EY Australia’s global thought leadership and deep industry knowledge. For our people it provides exciting career development opportunities through industry focus, technology career paths and global reach and mobility. The EY Australia Cyber team is a natural, cultural fit for us.”
David Larocca, EY Australia CEO and Regional Managing Partner (Oceania) said:
“Cyber security is a critical business function that has moved beyond our clients’ technology agenda. This is because we’re seeing a dramatic escalation in the frequency and impact of ransomware attacks that are changing the way Boards are accountable to stakeholders.
“Our clients are telling us that cyber security is one of their greatest concerns. It is now high on the agenda at Board, C-suite and government leadership meetings.
“EY Australia is investing in the technology, assets and that will help our clients develop protection strategies. The addition of SecureWorx to our cyber team will provide our clients with even greater security. EY Australia’s purpose is to Build a Better Working World, and the acquisition of SecureWorx goes to the heart of this. We look forward to welcoming SecureWorx to EY Australia and to provide these enhanced services to our clients,” said Mr Larocca.
