Accenture to buy Dragos, runZero, NetRise

end-to-end OT – Accenture has agreed to acquire a majority stake in Dragos and 100% of runZero and NetRise for about $4.175 billion, aiming to build an end-to-end cybersecurity platform for operational technology. The deal is expected to close in August or September 2026, and

By the time attackers pivot from IT to the machinery that runs daily life, defenders often feel they’re arriving late.

Accenture says it wants to close that gap by strengthening how critical infrastructure defends its operational technology—industrial control systems, Internet of Things devices, sensors, and cloud-connected equipment—through new software capabilities.

The company announced it 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, contingent on customary closing conditions, including receiving required regulatory approvals.

Dragos, runZero and NetRise are set to be combined into what Accenture describes as a unified, end-to-end cybersecurity platform. For industrial and critical infrastructure operators. the promise is blunt: one place to see what is running across their OT network. understand what is attacking. and move faster to stop it.

Dragos’ OT threat detection, trusted vendor-neutral platform, and proprietary dataset will be enhanced through the acquisitions of runZero and NetRise. Accenture says runZero will add comprehensive exposure assessment and attack-surface intelligence. NetRise will add a software supply chain dataset and firmware-level visibility into device exposure.

Accenture also says that combining Dragos with runZero and NetRise will deliver a unified solution designed to increase visibility, accelerate threat detection and response, and scale adoption of a broadened platform. Dragos will continue to function as an independent business.

The deal comes with people, not just product. Led by Dragos co-founder and CEO Robert M. Lee, runZero and NetRise will operate under Dragos, based in Hanover, Maryland, with 580 employees. Accenture says 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 and Chief Scientist at NetRise. will become key Dragos executives.

“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. ” Julie Sweet. chair and CEO of Accenture. said. “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.”.

Robert M. Lee made the case for xOT—an extended operational technology environment Accenture describes as high-growth and expanding. “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,” Lee said. “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.”.

Accenture’s pitch is also shaped by where it believes security budgets lag. It says that as AI is integrated into industrial decision-making and as adversary operations compress the time between IT compromise and OT targeting. most cybersecurity budgets remain focused on IT—leaving critical infrastructure xOT environments exposed.

Dragos works with technology companies across its ecosystem, including collaboration with cloud platforms, cybersecurity software companies, and OT equipment manufacturers. Accenture says Dragos will retain its vendor-neutral approach and its product roadmap to support customers’ complex, multi-vendor environments.

Accenture framed the acquisition as part of a broader expansion track it has already been executing. It says cybersecurity revenue reached $10 billion in fiscal year 2025. up from $700 million in 2016—representing a 35% compounded annual growth rate (CAGR). four times the rate of Accenture’s overall CAGR.

The company estimates that the acquisitions are expected to meaningfully expand Accenture’s position in the OT cybersecurity market from services—where it says 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. Accenture estimates the broader OT cybersecurity opportunity at $27 billion in 2026, projected to grow to nearly $59 billion by 2031 at approximately 16% CAGR.

Financially. Accenture says 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. It says the acquisitions deliver strong gross margins. and while initially dilutive. they are expected to be accretive to earnings per share and free cash flow over time.

The transaction builds on Accenture’s prior investments in OT cybersecurity, including the acquisitions of Cimation in 2015 and Revolutionary Security in 2020, along with other OT-focused companies like Callisto, Electro 80, True North Solutions and SYSTEMA.

Accenture did not position the move as only a corporate strategy. It tied the timing to the realities it describes for defenders—how quickly a compromise can become a real-world threat once it reaches industrial systems.

Ahead of the closing window, Accenture also pointed to the uncertainties typical of large deals. In its forward-looking statements. the company said the transactions depend on parties’ ability to satisfy closing conditions and could fail to close within the time period anticipated or at all. It also flagged risks around whether the acquisitions deliver anticipated benefits. how volatile economic and geopolitical conditions could affect clients. and risks related to developing and using AI.

Accenture’s statement also noted potential amplifications “by conflict in the Middle East,” as well as risks tied to competition, ecosystem partnerships, managing organizational challenges, acquisition integration, and government contracting exposure, among other factors.

For now, though, the focus of the announcement is the same: building an OT defense stack that does not separate visibility from action—because in xOT environments, Accenture argues, the clock is unforgiving.

Accenture helps the world’s leading enterprises reinvent by building their digital core and unleashing the power of AI to create value at speed. and it says it serves approximately 9. 000 clients and generated approximately $70 billion in FY25 revenue. The company’s cybersecurity capabilities are described within its broader reinvention services, alongside other offerings.

The announcement is backed by study citations for market sizing: Accenture commissioned a study by a leading analyst firm, with reference to MarketsandMarkets™: Operational Technology (OT) Security Market Report 2026-2031, by Solutions, Geo, Tech.

Contacts listed for the announcement were Alison Geib at Accenture (+1 703 947 4404, [email protected]) and Marco Amaya at Accenture (+1 703 947 4134, [email protected]).

Accenture Dragos runZero NetRise OT cybersecurity xOT industrial control systems supply chain security firmware visibility cyber threat detection critical infrastructure