Tuesday, June 25, 2024

Google Acquiring Mandiant for $5.4B for Cloud Cybersecurity

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MOUNTAIN VIEW, Calif. — Google is expanding its cloud-native cybersecurity portfolio through a $5.4 billion acquisition of Mandiant.

Google, a subsidiary of Alphabet (Nasdaq: GOOG, GOOGL), signed a definitive agreement to acquire Mandiant (Nasdaq: MNDT) for $23 per share in an all-cash transaction, inclusive of Mandiant’s net cash, according to Google yesterday.

The acquisition is subject to customary closing conditions, including Mandiant stockholder and regulatory approvals. The deal is expected to close “later this year.”

Mandiant will be part of Google Cloud.

Google believes companies are facing a “global security imperative,” with the cloud representing a “new way to change the security paradigm.” 

Google described Mandiant, founded in 2004, as a leader in “dynamic cyber defense and response.” The Reston, Virginia-based company has over 1,800 employees, according to LinkedIn.

The addition of Mandiant will improve Google Cloud’s cybersecurity offerings to deliver an “end-to-end security operations suite,” with greater capabilities to support customers across their cloud and on-premises environments. 

Mandiant provides strategic security advisory and incident response services, real-time threat detection and intelligence, and several other key offerings: automation and response tools; testing and validation; and managed defense.

Google Cloud is “deeply committed” to supporting the technology partners of both companies. The acquisition will allow system integrators, resellers, and managed security service providers (MSSPs) to offer broader solutions to customers.

“Organizations around the world are facing unprecedented cybersecurity challenges, as the sophistication and severity of attacks that were previously used to target major governments are now being used to target companies in every industry,” said Thomas Kurian, CEO, Google Cloud. 

“We look forward to welcoming Mandiant to Google Cloud to further enhance our security operations suite and advisory services and help customers address their most important security challenges.”

Kevin Mandia, CEO of Mandiant, said the company is “thrilled to be joining forces” with Google Cloud.

“Together, we will deliver expertise and intelligence at scale, changing the security industry,” Mandia said.

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