In a bid to strengthen its cloud security offerings, Google has agreed to acquire Nasdaq-listed cyber security solutions company Mandiant for about $5.4 billion in an all-cash deal.
The acquisition will complement Google Cloud’s existing strengths in security. Together with Mandiant, Google Cloud will deliver an end-to-end security operations suite with even greater capabilities.
Definitive agreement
Mandiant has said that it has entered into a definitive agreement to be acquired by Google for $23 a share. “The offer price represents a 57 per cent premium to the undisturbed 10-day trailing volume weighted average price as of February 7,” Mandiant has said in a statement.
Post the close of the acquisition, 18-year-old Mandiant will join Google Cloud. The cyber security solutions company has over 600 consultants and comes out with threat intelligence reports, paired with research from more than 300 intelligence analysts.
Mandiant Advantage solution
Based on the the threat landscape, it provides dynamic cyber defence solutions through Mandiant Advantage, a managed multi-vendor XDR platform.
“Together, we will deliver our expertise and intelligence at scale via the Mandiant Advantage SaaS platform, as part of the Google Cloud security portfolio,” Kevin Mandia, CEO, Mandiant, said.
Goldman Sachs & Co. is acting as exclusive financial advisor, and Wilson Sonsini Goodrich & Rosati is acting as legal advisor to Mandiant.
Mandiant’s India plans
With a view to tapping the opportunity in India and neighbouring countries, Mandiant has recently appointed Balaji Rao as its new Country Manager for India and SAARC markets, with a mandate to generate revenues and lead operations.
Mandiant said it wanted to build a team to help organisations in India gain their cyber security advantage, using its portfolio of solutions.
“With Balaji joining our dynamic team, I am confident that we will sharpen our focus to enable more organisations to deploy our controls-agnostics security solutions and services while expanding our growing presence in the Indian subcontinent,” a top company executive said.