Alphabet’s Google has a $5.4 billion deal in place for the acquisition of cybersecurity firm Mandiant, a move intended to complement Google Cloud’s security strengths and better protect customers.
The $23 per share, all-cash deal included Mandiant’s net cash and is expected to close later this year. Upon closing, Mandiant will be folded into Google Cloud to create an “end-to-end security operations suite,” according to a Mandiant press statement on Tuesday (March 8).
“This is an opportunity to deliver an end-to-end security operations suite and extend one of the best consulting organizations in the world. Together we can make a profound impact in securing the cloud, accelerating the adoption of cloud computing, and ultimately make the world safer,” said Thomas Kurian, CEO of Google Cloud.
Founded in 2004, Mandiant’s more than 600 cybersecurity consultants respond to thousands of breaches annually. Research from over 300 intelligence analysts power Mandiant’s security tools, delivered across Mandiant Advantage, a multi-vendor XDR platform.
“Cyber security is a mission, and we believe it’s one of the most important of our generation. Google Cloud shares our mission-driven culture to bring security to every organization,” said Kevin Mandia, CEO, Mandiant.
“Together, we will deliver our expertise and intelligence at scale via the Mandiant Advantage SaaS platform, as part of the Google Cloud security portfolio. These efforts will help organizations to effectively, efficiently and continuously manage and configure their complex mix of security products,” Mandia said.
Google has been increasing its presence in cloud computing and cybersecurity in recent years by acquiring providers, such as Israeli startup Siemplify in January, and expanding its in-house capabilities as well. The move appears geared towards increasing Google’s clout in the growing e-finance business, with financial institutions increasingly turning to the Cloud for their operations.
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