KPMG announced today that it has completed the acquisition of P3, a privately-owned German cyber-security firm that provides risk management, security assessments and mobile & fixed network protection to clients across the financial services sector.
The acquisition of the Frankfurt based business brings KPMG’s German Cyber Security practice up to four partners and 100 staff, extending their lead over their direct competitors. The move further strengthens KPMG teams across the world to serve global clients, particularly in the key financial services market
KPMG’s purchase of P3 comes hot on the heels of their acquisition of the UK, US and Indian assets of Qubera Solutions, a leading Identity and Access Management consultancy.
Malcolm Marshall, global leader of KPMG’s cyber security practice, says: “Cyber security is one of the greatest risks facing business today. Building on our already strong position in Germany makes us more able to protect our clients in the world’s fourth largest economy and globally. By bringing the expertise of P3 together with our German and global teams, we are in an even stronger position to help clients tackle and mitigate the threats they face.”
Hans-Peter Fischer, senior executive at p3, adds: “The integration into the global KPMG network raises our offering to a new level. We now have the opportunity to offer our customers even more comprehensive solutions to the cyber security concerns they face and look forward to helping them manage their risks on an international platform.”
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Mike Petrook, KPMG Press Office
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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.