Mitsubishi Electric is acquiring Nozomi Networks, a leading OT and IoT cybersecurity firm, in a deal valued at nearly $1 billion, marking the company’s largest acquisition ever. The deal will make Nozomi a wholly owned subsidiary while allowing it to operate independently, enhancing solutions with AI and machine learning for industrial cybersecurity. #NozomiNetworks #OTCybersecurity
Keypoints
- Mitsubishi Electric is acquiring Nozomi Networks for $883 million in cash.
- Nozomi Networks will become a wholly owned subsidiary after the deal closes in late 2025.
- Nozomi’s platform offers asset discovery, continuous monitoring, and vulnerability management for OT and IoT systems.
- The company reported $75 million in revenue in 2024, showing growth from previous years.
- The acquisition aims to combine industrial expertise with AI/ML innovations to enhance cybersecurity solutions.
Read More: https://www.securityweek.com/mitsubishi-electric-to-acquire-nozomi-networks-for-nearly-1-billion/