Login
iscover
Share this article on:
Powered by
MOMENTUM
MEDIA
Powered by MOMENTUMMEDIA
Major Japanese electronics multinational Mitsubishi Electric (Mitsubishi) is set to acquire major industrial cyber security firm Nozomi Networks in a record US$1 billion deal.
The definitive agreement, which was signed yesterday (9 September), will see Mitsubishi pay US$883 million to round out Nozomi stock previously purchased by the company.
The two companies have shared a history of collaboration, with Mitsubishi having participated in Nozomi’s US$100 million series E funding round announced in March last year, since which point the two have worked together on innovation.
Following the deal, Nozomi will operate independently as a wholly owned subsidiary of Mitsubishi.
“By combining Mitsubishi Electric’s century of global industrial expertise with Nozomi Networks’ innovations in data science, AI/ML and industrial cyber security, we have a unique opportunity to create a new generation of AI-powered solutions that will strengthen cyber and operations through power new innovations for customers across all OT/IoT use cases and industries around the world,” said Nozomi co founder Andrea Carcano.
Nozomi, which has a significant presence in Australia, New Zealand and the Asia-Pacific, is a world leader in operational technology (OT) security, which it pairs with AI for the delivery of sophisticated cyber security solutions.
“This marks an exciting new chapter for Nozomi Networks. By becoming part of Mitsubishi Electric, we will combine our strengths to drive the next generation of industrial security and innovation to bring additional value for customers around the world,” said the president and CEO of Nozomi Networks, Edgard Capdevielle.
“Nothing will change in our day-to-day engagement with Nozomi customers and partners – they will continue to receive the same support and service, and the same cutting-edge OT and IoT cyber security platform they have come to trust. With the combined global reach and resources of both companies, we can supercharge our innovation engine, helping industrial organisations secure and accelerate their own digital transformations.”
While Nozomi will remain independent in operation, Mitsubishi’s solutions will benefit from the engineering and innovation brought by Nozomi.
“We are excited to welcome Nozomi to the Mitsubishi Electric family. Their cutting-edge OT security technology and rapid development philosophy have earned them a strong reputation. By combining Nozomi’s strengths with Mitsubishi Electric’s extensive expertise and capabilities in OT, I believe we can achieve even more,” said Mitsubishi Electric senior vice president, CDO, chief information officer, and board member at Mitsubishi Electric Corporation, Satoshi Takeda.
“This acquisition will enable us to co-create valuable new services while supporting Nozomi’s commitment to innovation and customer flexibility. Together, we can help our customers achieve their digital transformation goals while enhancing security, efficiency, and resilience.”
Mitsubishi’s acquisition of Nozomi is set to close in the last calendar quarter of 2025.
Be the first to hear the latest developments in the cyber industry.
