Saturday May 28, 2022

Google to buy cybersecurity firm Mandiant for $5.4 billion By Reuters

© Reuters. FILE PHOTO: A Google logo is seen outside of the Google Store, where visitors can try phones and other products from the company, in New York City, New York, US, February 10, 2022. Picture taken February 10, 2022. REUTERS/ Paresh Dave

(Reuters) – Alphabet (NASDAQ:) Inc’s Google said on Tuesday it would buy cybersecurity firm Mandiant Inc for $5.4 billion in cash as its cloud business skyrockets.

Google’s offer of $23 per share is at a premium of about 53% to Mandiant’s stock price before a report that said Microsoft Corp (NASDAQ:) was eyeing a deal to buy the company.

A deal could bolster Google’s cloud computing business, which generates more than $19 billion annually but has been losing billions of dollars a year, and help it compete with bigger rival Microsoft Corp.

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Mandiant focuses on cyber-incident response and cybersecurity testing.

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