Home
Internet
Google to Buy Cybersecurity Firm Mandiant for $5.4 Billion

Google to Buy Cybersecurity Firm Mandiant for $5.4 Billion

Microsoft was also said to be eyeing a buyout of Mandiant.

By Reuters | Updated: 8 March 2022 18:49 IST

Google to Buy Cybersecurity Firm Mandiant for $5.4 Billion

Photo Credit: Reuters

Alphabet shares rose 0.2 percent to $2532.20 (roughly Rs. 1,94,900) on Tuesday

Click Here to Add Gadgets360 As A Trusted Source

Highlights

Google's acquisition of Mandiant will enhance its cloud business
Rival Microsoft was also said to be eyeing a buyout of Mandiant
Mandiant focuses on cyber-incident response and cybersecurity testing

Google is buying cybersecurity firm Mandiant for $5.4 billion (roughly Rs. 41,570 crore), adding heft as rivals Microsoft and Amazon also look to beef up security for their fast-growing cloud units.

The deal will enhance Google's cloud computing business, which generates more than $19 billion (roughly Rs. 1,46,260 crore) annually, and bolster its security operations and advisory services, the company said on Tuesday.

The Information reported the news first on Monday.

Microsoft was also said to be eyeing a buyout of Mandiant, according to news reports. The software giant had previously forecast spending $20 billion (roughly Rs. 1,53,940 crore) spend on cybersecurity over the next five years.

Google's offer of $23 (roughly Rs. 1,770) per share represents a premium of about 53 percent to Mandiant's stock price levels before reports that Microsoft was eyeing a deal.

Shares of Mandiant fell 2 percent, while those of Alphabet rose 0.2 percent to $2532.20 (roughly Rs. 1,94,900) in premarket trading on Tuesday.

Mandiant, which focuses on cyber-incident response and cybersecurity testing, became a standalone entity last year when FireEye, which acquired the company in 2013, sold its products business and the FireEye name for $1.2 billion (roughly Rs. 9,230 crore) to a consortium led by private equity firm Symphony Technology Group.

The firm has become a go-to for news organizations and companies for investigating cyberattacks, including recent breaches at News Corp and Nvidia.

The deal is expected to close later this year.

What should you know about MWC 2022? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Param Ganga: Made-in-India Petascale Supercomputer Installed at IIT Roorkee

Google to Buy Cybersecurity Firm Mandiant for $5.4 Billion

Related Stories