Agrees to acquire majority stake in Dragos, a leading platform for operational technology cybersecurity
Agrees to acquire runZero, a leading asset intelligence and exposure assessment company, and NetRise, a leader in device security and software supply chain security
[Reposted from Accenture] NEW YORK; June 18, 2026 – Building on its $10 billion cybersecurity business, Accenture (NYSE: ACN) is expanding its position with the acquisition of a majority stake in Dragos and all of runZero and NetRise to deliver end-to-end operational technology (OT) security for the critical infrastructure and industrial operations underpinning power grids, pipelines, manufacturing, distribution facilities and data centers. The Dragos Platform will expand to cover the extended environment that controls physical processes, while Accenture's deep OT security expertise, unique industrial datasets and decades of trusted relationships with critical infrastructure operators will address a need previously unaddressed at scale.
Dragos' industry-leading OT threat detection, trusted vendor-neutral platform and proprietary dataset will be enhanced through the acquisitions of runZero and NetRise. The addition of runZero will bring comprehensive exposure assessment and attack-surface intelligence. NetRise will add a unique software supply chain dataset and firmware-level visibility into device exposure. Combining Dragos with runZero and NetRise will deliver a unified solution that enhances visibility, accelerates threat detection and response and strengthens Dragos’ ability to scale adoption of its broadened platform. Industrial and critical infrastructure operators will have one place to see everything on their OT network, understand what’s running on it and help stop what’s attacking it.
The expanding mix of critical assets, including industrial control systems, Internet of Things, sensors, cloud-connected devices and related IT infrastructure, makes up the extended high-growth operational technology environment known as “xOT.” With operational environments more connected than ever, AI is being integrated into industrial decision-making in ways that will expand xOT environments further over the next several years. AI is also being integrated into adversary operations in ways that compress the time between IT compromise and OT targeting. As geopolitical and AI-driven threats accelerate, most cybersecurity budgets remain focused on IT, leaving critical infrastructure xOT environments exposed. To address this imbalance, business and government leaders need to invest now in xOT cybersecurity that uses the right datasets to help defenders harness AI more effectively.
“In an age when AI-driven cyber threats and geopolitical risk are evolving at a rapid pace, our cybersecurity practice is growing by double-digits and has a strong track record of leveraging inorganic opportunity to fuel organic growth,” said Julie Sweet, chair and CEO, Accenture. “Our clients across industries and regions are asking us how to be more proactive and integrated in their approach to cybersecurity. The addition of Dragos, complemented by runZero and NetRise, fills this important need. We are confident Dragos’ differentiated OT platform will accelerate our growth in the critical infrastructure and industrial operations markets, driving long-term shareholder value through scaled adoption of advanced cybersecurity capabilities.”
Led by Dragos co-founder and CEO Robert M. Lee, runZero and NetRise will operate under Dragos (based in Hanover, Maryland with 580 employees), which will continue to function as an independent business. HD Moore, CEO of runZero (based in Austin, Texas with 66 employees), Thomas Pace, CEO of NetRise (based in Austin, Texas with 57 employees), and Michael Scott, Chief Technology Officer & Chief Scientist at NetRise, will become key Dragos executives.
“Our energy and water systems, manufacturing plants, data centers and other operational environments need cybersecurity built from the ground up for xOT and designed to keep pace as threats evolve. The consequences of getting it wrong become societal threats,” said Robert M. Lee, co-founder and CEO of Dragos. “Organizations need solutions, not a patchwork of software and services. The addition of runZero and NetRise will allow the Dragos Platform to be a unique end-to-end platform for global defense, and Accenture will bring its decades of trusted relationships and deep expertise to help us scale and secure more critical infrastructure and physical operations globally.”
Dragos works with the world’s leading technology companies, including through its strong collaboration with cloud platforms, as well as cybersecurity software companies and OT equipment manufacturers. Dragos will retain its vendor-neutral approach and its product roadmap to support customers’ complex, multi-vendor environments.
Transaction Builds on Accenture’s Track Record of Growth and Value Creation in Cybersecurity
Accenture has grown its cybersecurity business to $10 billion of revenue in fiscal year 2025 from $700 million of revenue in 2016. This represents a 35% compounded annual growth rate (CAGR), which is four times the rate of Accenture’s overall CAGR.
These acquisitions are expected to meaningfully expand Accenture's position in the OT cybersecurity market from services, where Accenture is already an established leader in an estimated $7 billion OT cybersecurity services market, into the broader OT cybersecurity market through the addition of software capabilities—an estimated $27 billion opportunity in 2026, projected to grow to nearly $59 billion by 2031 at approximately 16% CAGR [1,2].
Together, Dragos, runZero and NetRise are estimated to generate approximately $208 million in annual recurring revenue as of June 2026, representing 53% year-over-year growth. The acquisitions deliver strong gross margins and, while initially dilutive, are expected to be accretive to earnings per share and free cash flow over time, positioning the business for long-term growth and returns.
Transaction Details
Accenture has entered into agreements to acquire a majority stake in Dragos and 100% of runZero and NetRise at a combined enterprise value of approximately $4.175 billion, subject to customary purchase price adjustments. The transactions are expected to close in August or September 2026, subject to customary closing conditions, including receipt of required regulatory approvals.
These acquisitions will build on more than a decade of investments from Accenture in OT cybersecurity, including the acquisitions of Cimation in 2015, Revolutionary Security in 2020 and other OT-focused companies like Callisto, Electro 80, True North Solutions and SYSTEMA.
About Accenture
Accenture helps the world’s leading enterprises reinvent by building their digital core and unleashing the power of AI to create value at speed for organizations across industries. Our strategy is to be the reinvention partner of choice for our clients and lead in the safe, widespread adoption of AI, and to be the most client-focused, AI-enabled, great place to work in the world. We bring together the talent of our approximately 786,000 people with proprietary assets and platforms, deep process and industry expertise, and leading ecosystem relationships to deliver end-to-end solutions and measurable outcomes at scale. Through our Reinvention Services, we offer broad expertise across Cybersecurity, Digital Core, Finance, Industry and Enterprise, Song, Supply Chain and Engineering, and Talent, with advanced capabilities in AI and Data, Industry and Process, and Technology. We serve approximately 9,000 clients and generated approximately $70 billion in FY25 revenue. Visit us at accenture.com.
Forward-Looking Statements
Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “aspires,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “goal,” “target” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance nor promises that goals or targets will be met, and involve a number of risks, uncertainties and other factors that are difficult to predict and could cause actual results to differ materially from those expressed or implied. Many of the following risks, uncertainties and other factors identified below may be amplified by conflict in the Middle East, as well as any escalation or expansion of economic disruption or the conflict’s current scope. These risks include, without limitation, risks that: Accenture, Dragos, runZero and NetRise will not be able to close the transaction in the time period anticipated, or at all, which is dependent on the parties’ ability to satisfy certain closing conditions; the transaction might not achieve the anticipated benefits for Accenture; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and geopolitical conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture’s business depends on generating and maintaining client demand for the company’s solutions and services including through the adaptation and expansion of its solutions and services in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; risks and uncertainties related to the development and use of AI, including advanced AI, could harm the company’s business, damage its reputation or give rise to legal or regulatory action; if Accenture is unable to match people and their skills with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; if Accenture does not successfully manage and develop its relationships with its ecosystem partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; Accenture’s profitability could materially suffer due to pricing pressure, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; Accenture’s debt obligations could adversely affect its business and financial condition; as a result of Accenture’s geographically diverse operations and strategy to continue to grow in key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s solutions or services infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.
[1,2] Accenture commissioned study by a leading analyst firm. MarketsandMarkets™: Operational Technology (OT) Security Market Report 2026- 2031, By Solutions, Geo, Tech
