OT security just got its Accenture capital close — and Dragos put NetRise and runZero on the same platform page.
On September 21 Dragos announced it has officially acquired NetRise and runZero. The company says the acquisitions follow the close of Accenture’s majority investment in Dragos. Financial terms for the NetRise and runZero acquisitions: Undisclosed in today’s Dragos release. Those prices are Undisclosed, so there is no deal math on the tuck-ins.
Accenture’s June 18 package is the underwrite frame. Accenture (NYSE: ACN) said it entered 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 (Accenture newsroom). SecurityWeek’s June coverage reported the Dragos majority stake at an enterprise valuation of $3.25 billion (SecurityWeek, citing Lee’s LinkedIn framing in that report). The $3.25B figure is from SecurityWeek’s reporting, not today’s Dragos PR, which does not restate it.
Close chronology matters. Accenture’s newsroom note on the June release (updated with closing facts) states: NetRise acquisition closed July 31, 2026; majority investment in Dragos closed September 16, 2026; runZero acquisition closed September 17, 2026; and as part of closing terms, NetRise and runZero have been acquired by Dragos. Today’s Dragos announcement is the platform-facing close: NetRise and runZero under Dragos after Accenture’s majority is live.
What is combining, per Dragos: runZero extends asset visibility and exposure management across IT, OT, and cloud sources organizations already have. NetRise adds firmware and software supply-chain visibility — outdated components, hardcoded credentials, and documentation support for NERC CIP, NIS2, TSA directives and similar. Earlier this year Dragos acquired Phosphorus for connected-device protection (Dragos PR). The company brands the combined surface as xOT — extended operational technology spanning devices, networks, cloud, software supply chain, and the operational core.
Leadership: Robert M. Lee named Chairman of the Board in addition to CEO. Joining with their teams: runZero CEO HD Moore, NetRise CEO Thomas Pace, and NetRise CTO/Chief Scientist Michael Scott. Dragos says it continues to operate independently with existing leadership and vendor neutrality. New board members from Accenture named in the PR: Harpreet Sidhu, Luis Luque, and John Coltsmann. Dmitri Alperovitch returns to the Dragos board.
June package operating claims (Accenture, as of announcement): Dragos based in Hanover, Maryland with 580 employees; runZero Austin with 66; NetRise Austin with 57. Combined Dragos + runZero + NetRise estimated ~$208 million ARR as of June 2026, 53% year-over-year growth (Accenture). Accenture also cites its own cybersecurity business at $10 billion revenue in FY2025. Those are Accenture disclosures. NetRise and runZero standalone prices are not broken out of the $4.175B package.
POV: This is the test of whether Accenture buying majority Dragos plus stuffing exposure and firmware into the same OT platform creates a durable xOT control plane — or a services giant wrapping three brands. Buyers should ask whether vendor neutrality survives Accenture board seats, and whether Phosphorus + runZero + NetRise actually collapses into one defender workflow. Combined EV ~$4.175B (Accenture Jun 18). Dragos majority ~$3.25B EV (SecurityWeek Jun). NetRise/runZero prices Undisclosed. Sources: Dragos Sep 21, SecurityWeek Sep 21, Accenture Jun 18, and SecurityWeek Jun 18.
Underwrite sheet — sourced only: Dragos acquires NetRise + runZero (Dragos PR Sep 21); Accenture majority closed Sep 16 (Accenture note); NetRise closed Jul 31; runZero closed Sep 17 then into Dragos (Accenture note); combined EV ~$4.175B (Accenture Jun 18); Dragos majority ~$3.25B EV (SecurityWeek Jun); NetRise/runZero prices Undisclosed; Lee Chairman + CEO; Moore/Pace/Scott join; ~$208M ARR / 53% YoY (Accenture Jun); 580/66/57 headcount (Accenture Jun). xOT platform under Accenture capital — durable path or brand wrap? Leave the blank tuck-in prices blank.