KPMG has acquired Silicon Valley-based cyber security business Cyberinc for an undisclosed sum.
The transaction will see Cyberinc’s 24-strong UK practice merge with KPMG’s cyber security team in the North. The majority of staff will transfer from Cyberinc’s former bases in Wetherby and Scarborough to KPMG’s office in Leeds.
Cyberinc, is headquartered in San Ramon, California, and has a global team of around 190 people with a significant presence in the USA, India, Singapore, Australia and the UK. It will continue to operate under the Cyberinc brand name.
Cyberinc provides identity and access management (IAM), the process which controls access to data within organisations and is a rapidly growing area of cyber security.
The firm, which provides end-to-end advisory services, including strategy, implementation and managed services, has particular expertise in supporting organisations in financial services, as well as retail, manufacturing, FMCG and healthcare.
The move is a boost to KPMG’s aspirations to do more work in the cyber security arena, with its dedicated team now employing more than 60 professionals, the largest in the region.
The acquisition also strengthens KPMG’s resources in digital consumer identity, which allows businesses to identify users more effectively and provide a tailored online experience for better engagement.
Martin Tyley, partner at KPMG and head of the firm’s cyber security practice in the UK regions, said: “The addition of the Cyberinc team and its capabilities establishes KPMG as a leading provider of newer, faster and more agile identity and access management systems.
“There is real demand for this technology, which provides a valuable tool in internal risk mitigation. “We look forward to working with our new colleagues to support clients in transitioning to the new technology.”
Mike Nelsey, former Cyberinc UK lead, will join KPMG as a director in Leeds as part of the deal.
Mr Nelsey said: “Cyber security remains a top risk to organisations as threats grow in scale and cyber criminals develop new ways to access protected information.
“Together with KPMG, we can provide world-class solutions to clients across all industries, helping them protect their information and successfully activate their digital strategies.”
The news comes on the same day that KPMG advised on the purchase of Goole-based Kelkay by Griffon subsidiary AMES Companies for a purchase price of approximately $56 million.