Consulting firm Accenture has announced the acquisition of Brazilian cybersecurity firm Morphus as part of a strategy that includes launching a cyberindustry practice for Latin America. Terms of the transaction were not disclosed.
Founded in 2003 in Fortaleza, Northeast Brazil, Morphus focuses on providing cyber defense, risk management and cyber threat intelligence services. The company has offices in Recife, São Paulo, Rio de Janeiro and Santiago, Chile.
With the acquisition, Accenture will add more than 230 specialists to its security practice, skilled in governance, risk and compliance services; enterprise risk management; cyber strategy; threat intelligence and managed security services. In addition, the consultancy will absorb Morphus’ research and development center focused on cybersecurity.
“The Morphus security team will accelerate the growth of our industry practice in the region, nearly doubling our security footprint in Brazil,” said André Fleury, head of Accenture Security in Latin America, in a statement.
“The acquisition complements our global practice and will enable us to help our customers build security by design, enhancing the offerings we provide across a wide range of industries in Latin America,” he added.
The acquisition also strengthens Accenture’s presence in the key sectors in which Morphus operates, such as media and communications technology, financial services, energy, retail and aviation.
Accenture Security has made 16 acquisitions since 2015 and acquired Symantec’s cybersecurity services in 2020. The company’s deals in Brazil include the acquisition of Real Protect, a Rio de Janeiro-based cybersecurity and security services (MSS) provider. Janeiro, announced in 2021.
The scope of Accenture’s cybersecurity activities in Latin countries like Brazil is vast. According to the Cyber Defense Index published by MIT Technology Exam Overview, Brazil is among the five countries that are making slowest progress in creating cyber defense environments. The country ranks 18th in the overall global ranking for cyber preparedness and regulation.
On the other hand, the study noted that regulatory laggards are trying to catch up. He added that the EU’s GDPR framework has become the gold standard, with governments like Brazil seeking to emulate it. Initial public consultation to shape its regulatory agenda was conducted by the National Data Protection Authority (ANPD) in August 2022. The ANPD is the cybersecurity agency responsible for enforcing the General Data Protection Law of 2018 of the country, which is similar to the GDPR.