KPMG Australia will acquire Asia Pacific cyber security technology solutions business, First Point Global, as part of a global strategy to expand the firm’s cyber capabilities. Today’s announcement marks the fourth cyber acquisition by the KPMG international network in the past five months.
First Point Global specialises in identity and access management (IAM). Founding partners John Havers and Jan Zeilinga will join KPMG’s Cyber Security leadership team and bring with them 30 professionals - the largest specialist IAM team in the country. The combined team, to be known as KPMG First Point Global, will offer clients a full spectrum of cyber services spanning consulting, systems implementation and ongoing support.
“This acquisition deepens our cyber capability in Australia, and is a very smart fit for growing client needs and our firm,” said KPMG Australia CEO, Gary Wingrove. “KPMG is already well positioned with a strong team focused on cyber risk, protection and cyber crime investigations. Now we can offer a much deeper capability by creating one of the leading cyber security consulting groups in Australia.”
Today’s announcement marks the sixth acquisition by KPMG Australia in the past 18 months – including social media risk consultancy, SR7; the Melbourne team of Pacific Strategy Partners; an accounting practice in Karratha, WA; mining services consultancy Momentum Partners; and most recently SGA Property Consultancy.
According to John Havers, CEO of First Point Global, digital identity and access management have risen in visibility within the corporate hierarchy, from the backroom to the boardroom.
“Ten years ago, we were having discussions with technologists about authentication and authorisation. Our discipline then became important for audit, risk and finance to address growing compliance requirements. Today, digital identity and its management underpins customer-facing services which are strategic for the growth and survival of businesses, and C-level executives and boards care about that,” he commented.
Globally, KPMG has identified cyber security as one of six strategic growth initiatives for focused investment. In the past five months, KPMG has invested substantially internationally in strengthening its cyber capabilities. This includes acquisitions of Qubera, a leading identity and access management consultancy operating in the USA, UK and India; P3 Consulting, a Frankfurt-based security boutique consultancy; and most recently Finnish cyber security business, Trusteq Oy – which also specialises in identity and access management services and security transformation.
“Cyber security is one of the greatest risks facing business today. The critical challenge of protecting information systems and assets, and the reputational and regulatory implications of failing to do so continue to raise the stakes on cyber security and governance. Investors and regulators are increasingly challenging boards to step up their oversight of cyber security and calling for greater transparency around major breaches and their impact on the business,” said Malcolm Marshall, KPMG’s Global Head of Cyber Security.
“First Point Global brings a particular strength in placing customer identity management at the heart of our clients’ customer strategies, building revenue as well as managing risk. This, and the other capabilities they bring, are being combined with our own strengths and those of the other acquisitions to make KPMG the clear choice in identity and access management globally,” he added.
Commercial terms were not disclosed.
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