Google confirmed today it has signed a definitive agreement to acquire Mandiant, which will join Google Cloud once the deal closes.
The deal will be completed for $23 per share, in an all-cash transaction valued at approximately $5.4 billion.
Google said the acquisition of Mandiant will complement Google Cloud’s existing strengths in security. With the addition of Mandiant, it aims to enhance its offerings to deliver end-to-end security operations with even greater capabilities to support customers across their cloud and on-premise environments.
The tech giant underlined that Mandiant brings real-time and in-depth threat intelligence gained on the frontlines of cyber security with the largest organisations in the world. Google said it will help enterprises stay protected at every stage of the security lifecycle.
This will be done through Mandiant’s advisory services, threat detection and intelligence, automation and response tools, testing and validation, and managed defence.
“Organisations 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 at 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.”
Google Cloud added that it’s deeply committed to supporting the technology partners of both companies, including the endpoint ecosystem. The acquisition will enable system integrators, resellers, and managed security providers to offer broader products to customers, it said.
The acquisition is subject to customary closing conditions, including the receipt of Mandiant stockholder and regulatory approvals, and is expected to close later this year.
“There has never been a more critical time in cybersecurity. Since our founding in 2004, Mandiant’s mission has been to combat cyber attacks and protect our customers from the latest threats,” said Kevin Mandia, CEO at Mandiant. “To that end, we are thrilled to be joining forces with Google Cloud. Together, we will deliver expertise and intelligence at scale, changing the security industry.”
At the beginning of February, Mandiant found that one in seven double-extortion ransomware attacks are leaking sensitive information that could provide access to physical systems. It found data stolen from ransomware victims related to operational technology systems, underlining that some of the data discovered included usernames and passwords for the systems, IP addresses, remote services, and more.