Google has officially buy Microsoft for the cybersecurity company that helped discover the SolarWinds hack.
Mandiant confirmed (8 March) that it has a definitive agreement to be acquire by Google in an all-cash transaction.
Google has agreed to pay $23 per share, valuing the deal at about $5.4bn.
cybersecurity player Mandiant will become part of Google Cloud to advance its security offerings. The combined companies Google and Mandiant will deliver end-to-end security operations advisory services.
“Google Cloud shares that our mission is to bring security to every organisation this is said by the Mandiant CEO Kevin Mandian”.
“ Kevin said Together, we will deliver our best expertise and intelligence at scale via the Mandiant Advantage SaaS platform, SaSoftware as a service is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as “on-demand software” and Web-based/Web-hosted softwareas
Google Cloud CEO Thomas Kurian said the acquisition has the potential to make a “profound impact” on cloud security and further adoption of cloud technologies.
The Information reported yesterday (7 March) that Google was in talks to acquire the business in a multibillion-dollar deal, according to a person with knowledge of the discussions.
It was said that such a deal could bolster Google’s cloud computing business and help it compete with larger rival Microsoft.
The news comes a month after Bloomberg reported that Microsoft was in talks to acquire Mandiant in a bid to further bolster its own cybersecurity efforts. This would be on top of its recent acquisitions of cybersecurity firm RiskIQ and security start-ups ReFirm Labs and CyberX.
The Information reported that bids for Mandiant were due at the end of February.
Mandiant offers managed detection and incident response services, and is credited with helping to discover the SolarWinds hack in 2020.
The company was acquired by FireEye in 2014 in a deal worth more than $1bn, but became an independent entity again last year after the FireEye product business was sold to McAfee Enterprise.
Its revenue reached $483m in 2021, a 21pc increase over the previous year, and the company currently has a market cap of around $5bn.
According to CNBC, Mandiant shares were up 16pc in closing yesterday following the report about a potential Google takeover.
This is an area that Google has been investing in recently, adding Israeli cybersecurity start-up Siemplify to its cloud security team earlier this year.
This is an updated version of an article that was originally published at 8.53am on Tuesday, 8 March 2022.
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