KPMG will acquire the Asia-Pacific cyber-security technology solutions business First Point Global, the fourth cyber acquisition by the KPMG international network in the past five months.
The deal will see First Point’s founding partners, John Havers and Jan Zeilinga, join KPMG’s cyber-security leadership team. In addition, 30 First Point staff will also join KPMG.
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.
Gary Wingrove, KPMG Australia’s chief executive, said the firm’s push into cyber capabilities reflects the changing needs of the firm’s clients.
“This acquisition deepens our cyber capability in Australia, and is a very smart fit for growing client needs and our firm,” he said.
“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.”
Globally, KPMG has identified cyber-security as one of six strategic growth areas for focused investment.
In the past five months, KPMG has acquired Qubera, an identity and access management consultancy operating in the USA, UK and India; P3 Consulting, a Frankfurt-based boutique security consultancy; and most recently, Finnish cyber-security business Trusteq Oy, which also specialises in identity and access management services and security transformation.
Malcolm Marshall, KPMG’s global head of cyber-security, said the area comprises 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, continues to raise the stakes for cyber-security and governance.
“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," Mr Marshall said.
“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.”
Moral hazards in member bodies
By Chris Hooper, Accodex
Process standardisation trumps automation
By Mark Sands, BOARD Australia
Tips for mergers and acquisitions of accounting fees
By Jamie Davison, Carbon Group