The consulting giant is acquiring majority control of Dragos and full ownership of runZero and NetRise to build an end-to-end operational technology security empire.
Accenture just wrote a $4.175 billion check to become a dominant force in operational technology cybersecurity. The consulting and IT services giant announced on June 18 that it’s taking a majority stake in Dragos while fully acquiring runZero and NetRise, creating what amounts to a one-stop shop for securing the industrial systems that keep power grids humming and factories running.
What Accenture is actually buying
The three companies serve distinct but complementary roles in the cybersecurity food chain.
Dragos specializes in protecting industrial control systems. These are the computerized brains that manage physical equipment in power plants, water treatment facilities, and oil refineries.
Dragos also quietly acquired Phosphorus on June 1, 2026, just weeks before this deal was announced. That acquisition gave Dragos additional capabilities in IoT device security.
runZero focuses on asset intelligence and exposure assessment. It helps organizations figure out exactly what devices are connected to their networks and where the vulnerabilities live.
NetRise rounds out the trio by securing device and software supply chains. Rather than attacking a company directly, hackers compromise the software or hardware vendors that company depends on. NetRise works to catch those threats before they cascade.
Combined, the three firms generate approximately $208 million in annual recurring revenue. That means Accenture is paying roughly 20 times ARR for the package.
Why this deal is happening now
AI-driven cyber threats are escalating, and nation-state actors and sophisticated criminal organizations are increasingly targeting operational technology rather than just IT networks. Geopolitical tensions have accelerated this trend, with critical infrastructure becoming a primary target in modern hybrid warfare.
The deal is expected to close in August or September 2026, pending regulatory approvals.
What this means for investors
Accenture’s stock declined following the announcement, compounded by a guidance cut that raised eyebrows about the company’s near-term financial outlook. Spending $4.175 billion on companies generating $208 million in combined ARR requires a long-term thesis.
