PwC buys Edinburgh cyber-security firm Praxism

Accountancy major PwC is expanding its cyber-security practice with the acquisition of Praxism, an Edinburgh-based consultancy specialising in identity and access management.

Praxism’s founder and director, Derek Gordon, and 13 employees will join PwC’s Edinburgh office, with one specialist based in Leeds. “Praxism is renowned for solutions to effectively tackle staff, customer and consumer identity management problems faced by many organisations,” PwC said.

“Managing user identity is a critical aspect of all security strategies and is a commonly cited audit issue among corporates.” The price of the acquisition is undisclosed.

PwC added that “cyber risk continues to be a focus point for boards and it’s unlikely that this will change in the short to medium term”.

Colin Slater, digital and cyber partner, PwC in Scotland, said: “Over the last six years, we’ve built a market-leading cyber security business and this acquisition provides a catalyst from which to expand our operations and build on our position as a trusted partner to solve complex identity and access problems.”

Slater said it would sharpen focus on key markets including utilities, financial services, energy and the public sector.

Gordon, who founded Praxism in 2008, said he was “delighted” his company was joining with PwC. “The opportunity this affords our people and our business is outstanding and clearly recognises the shared culture and values between our organisations,” he said.