GOOGLE has closed a deal to purchase tech giant Mandiant as it hopes to bolster its cybersecurity features.
The Mountain View, California-based company announced on Tuesday that it signed a “definitive agreement” to acquire American cybersecurity firm Mandiant, Inc.
Google purchased Mandiant in an all-cash transaction for $23 a share (or approximately $5.4 billion), the tech company revealed in a blog post.
The deal, which is the second-largest in history for Alphabet (Google’s parent company), includes all of Mandiant’s net cash, according to the Wall Street Journal.
After the deal closes, Mandiant is slated to join Google’s Cloud Platform, which features a suite of internal cloud computing services such as Google Search, Gmail, Google Drive, and YouTube.
Mandiant is considered a pioneer in the cybersecurity industry and is often utilized by U.S. intelligence agencies for insight and reports on malicious cyber campaigns conducted by foreign hackers.
“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, the CEO of 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,” Kurian added.
Google revealed that Mandiant’s technology will be used to complement its Cloud’s existing security features, as well as to enhance its security operations suite and advisory services.
Kevin Mandia, the chief executive of Mandiant, said he is “thrilled” to be joining forces with Google Cloud to “deliver expertise and intelligence at scale, changing the security industry.”
“I don’t look at this as selling my baby. I look at it as moving the mission forward,” Mr. Mandia told the Wall Street Journal.
The acquisition will also allow Google to directly compete with Microsoft’s security business, which rakes an annual revenue of about $15 billion.
Dave DeWalt, former chief executive of Mandiant when it was known as FireEye, told the Journal that he believes Google is now the “most powerful company in the world when it comes to security.”
Mandiant was founded by Mr. Mandia, who is a former Air Force veteran, in 2004 and has since solidified its position as one of the world’s leading cybersecurity firms.
The firm features more than 600 consultants that reply to thousands of security breaches each year to deliver solutions on cyber defense, according to a press release by Mandiant.
In other news, the creators of a chilling new horror game say that the title is so disturbing they’ve been forced to censor it on PlayStation.
Apple has announced updates to AirTags following claims that the coin-sized tracking devices are being used to stalk people.
And TikTok has announced new rules, banning users who deadname or misgender others.
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