KPMG Acquires Assets Of Cyber Security Firm

October 7, 2014

As a growing number of global organisations fall victim to sophisticated cyber-attacks, a group of Bermuda based Cyber Security experts are spreading the word that the island is not immune to these threats.

Last week, delegates from Bermuda’s public and private sectors participated in a three day series of events. The events addressed the potential local impact of Cyber Crime, and what steps the jurisdiction could take to guard against online intrusions and security breaches.

Fred Oberholzer, head of Cyber Security in the Bermuda office of global financial services firm KPMG, Coordinator of the ISACA Bermuda Chapter said: “Cyber Crime poses a serious threat to Bermuda by not only putting locally domiciled companies at risk, but also by potentially compromising Bermuda’s excellent reputation as a safe place to do business.”

Both KPMG and the ISACA Bermuda Chapter played pivotal roles in facilitating the Cyber Security themed events, providing funding, analysis and speakers for each of the events, including Jason Healey, the director of cyber statecraft initiative for the Atlantic Council and a former policy director at the White House, as well as a review board member of the DEF CON global hacker conference.

Cyber Security is an important concern for every organisation and investor, governments and regulators are increasingly challenging board members to actively demonstrate diligence in relation to dealing with Cyber Crime.

With this in mind, KPMG on Friday, October 3, 2014 announced the acquisition of certain assets of Qubera, a leading privately-held Cyber Security firm based in the US, UK and India.

Tom Kelly, Managing Director of KPMG Advisory Limited and head of the Bermuda’s firm’s Risk Consultancy said, “The firm’s acquisition of certain assets of Qubera, a joint deal between the UK and US Firms, means that our global network has an even greater capacity to help clients align their risk appetite with business goals and further bolsters what is rapidly becoming a world-leading Cyber Security practice.”

As recent headlines continue to confirm, cyber-attacks are clearly growing in scale and incidents continue to be on the rise. Organisations are increasingly vulnerable as a result of technological advances and changing working practices including remote access, big data, cloud computing, social media, and mobile technology.

“The cyber domain knows no borders, making cyber security at its heart, an international issue,” Mr. Kelly said. “One that no one country or enterprise can afford to ignore – or fully address alone. Last week’s Bermuda discussions were an important step in addressing the challenges cyber-security presents.”

For further details contact Fred Oberholzer, Senior Manager, Advisory Tel +1 441 295 5063 or Email

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