EY buys J Group Consulting to strengthen cyber security practice
The deal comes amid heightened regulatory pressure on businesses following the recent introduction of new cyber obligations.
EY has snapped up Melbourne-based cyber security and management consulting firm J Group Consulting as it seeks to position itself at the forefront of growing industry demand.
J Group Consulting, which specialises in identity and access management, would give EY’s cyber security practice a competitive edge in the fast-growing market, according to practice leader Richard Watson.
“J Group Consulting bolsters the strength of the EY cyber security practice with unique skills in a highly competitive market and puts EY identity and privileged access management capabilities at the front of the Oceania market,” Watson said.
“The introduction of recent legislation around critical infrastructure in Australia is driving many implementations in the market.”
Financial terms of the deal, announced Friday, were not disclosed.
EY said J Group Consulting’s team of 20 employees would join its subsidiary EY Identity (EYI) and would be based out of Melbourne and Sydney, servicing clients across Oceania.
The firm’s founder, Joel Harris, would join as a partner.
Regional managing partner and Oceania CEO, David Larocca, said: “I am excited to welcome the J Group Consulting team to our Oceania practice.”
“In expanding our EY Identity practice, we further enhance our cyber security capabilities in the region, protecting people, clients and communities and assisting us to achieve our ambition to shape the future with confidence.”
J Group Consulting was founded in 2022.
EY said that in the past two years, it had “established an innovative environment focused on attracting and cultivating highly experienced privileged access management practitioners offering strategy, implementation, optimisation and engineering services across Asia Pacific”.
Harris said his firm’s focus had always been on helping clients navigate the increasingly complex cyber security landscape.
“Joining EYI marks an exciting evolution of what we’ve built, enabling us to take the strengths we already have and grow them further within EYI,” Harris said.
“Together, we will continue to help deliver impactful, leading-class services with a shared vision and commitment to excellence, while maintaining the human touch that defines how we have always approached every challenge.”
“We’re excited for this next chapter and the new opportunities it brings for both our team and our clients.”
The deal comes amid heightened regulatory pressure on businesses following the introduction of stricter cyber security measures.
In October, the federal government introduced the Cyber Security Bill 2024 into Parliament, a key component of its landmark 2023-2030 cyber security strategy.
The strategy centres on building six “shields around Australia”, such as improving protections for individuals and businesses, technology, intelligence sharing, critical infrastructure, sovereign capabilities and regional security.
Specifically, the bill is set to introduce mandatory cyber security standards, ransomware reporting obligations for businesses and a Cyber Incident Review Board to conduct post-incident reviews of major incidents in Australia.
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