Industrial and expertise big Mitsubishi Electrical has signed a definitive settlement to accumulate OT and IoT cybersecurity firm Nozomi Networks in a deal that values the economic cybersecurity agency at almost $1 billion.
Mitsubishi Electrical will purchase the Nozomi Networks shares it doesn’t already personal for $883 million in money, this being Mitsubishi’s largest acquisition ever. Mitsubishi Electrical already owns a 7% stake in Nozomi after taking part in Nozomi’s $100 million Sequence E funding spherical in 2024. Nozomi has raised greater than $250 million in funding to this point.
When the transaction closes within the fourth quarter of 2025, Nozomi Networks will turn into a completely owned subsidiary of Mitsubishi Electrical and it’ll proceed to function independently.
Nozomi will keep its headquarters in San Francisco, California, and R&D unit in Switzerland. The corporate famous that there will probably be no disruptions to operations or partnerships on account of the acquisition.
Nozomi had roughly $75 million in income in 2024, based on knowledge offered by Mitsubishi Electrical, up from simply over $62 million in 2023.
The cybersecurity agency has developed a platform designed to provide organizations visibility and management over OT and IoT programs. Nozomi offers asset discovery and visibility, steady monitoring and anomaly detection, vulnerability administration, and distant administration and monitoring capabilities.
“By combining Mitsubishi Electrical’s century of worldwide industrial experience with Nozomi Networks’ improvements in knowledge science, AI/ML and industrial cybersecurity, now we have a singular alternative to create a brand new era of AI-powered options that may strengthen cyber and operations by energy new improvements for patrons throughout all OT/IoT use instances and industries all over the world,” mentioned Andrea Carcano, co-founder and Chief Product Officer of Nozomi Networks.
Nozomi Networks will probably be showcasing its options at SecurityWeek’s 2025 ICS Cybersecurity Convention, going down October 28-30 in Atlanta.
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