Google just announced its biggest ever security purchase

Date:
Tue, 08 Mar 2022 14:56:44 +0000

Description:
Mandiant joins Google in a deal worth $5.4 billion.

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Google has boosted its cloud security with the acquisition of cyber defense and response company Mandiant.

The deal was confirmed by both parties and valued at approximately $5.4 billion, inclusive of the latters net cash, making it Google's biggest security purchase ever.

The deal, which is expected to be closed later this year, will be done in all-cash, at $23.00 per share. That represents a 57% premium to the undisturbed 10-day trailing volume weighted average price as of February 7, 2022, the last full trading day prior to published market speculation regarding the potential acquisition.

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Mandiant, which was founded back in 2004, was previously part of the FireEye brand, regaining its independence last year, when FireEye was sold to a consortium lead by the Symphony Technology Group.

Once it closes, Mandiant will join Googles cloud division, with the deal welcomed by the latter.

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.

The news seems to have resonated well with investors and speculators, as the companys shares went up 16% on the news.

As usual, the deal is subject to customary closing conditions, and if all
goes according to plan, will be the second-largest Google acquisition,
smaller only than the $12.5 billion Motorola deal that happened back in 2012 Read more

Switching to cloud security is already paying off for many companies

Google Cloud is making changes to help startups grow

Google Cloud is still losing buckets of money

Things almost took a significantly different turn, as Microsoft reportedly pulled out of negotiations to acquire Mandiant a few weeks ago.

According to a Bloomberg report, Microsoft stepped back after assessing that Mandiants collection of security businesses wasnt a good enough strategic
fit. Check out our list of the best firewalls right now



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Link to news story: https://www.techradar.com/news/google-buys-mandiant-in-biggest-security-deal/


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