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Google to buy cybersecurity firm Mandiant for $5.4 billion -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: The Google Store is a place where customers can test phones and other products. It’s located in New York City. This was taken February 10, 2022. Image taken February 10, 20,22. REUTERS/Paresh David

(Reuters) – Alphabet (NASDAQ) Inc announced Tuesday that it will buy cybersecurity company Mandiant Inc in cash for $5.4 billion as the cloud business of Inc skyrockets.

Google’s $23 share price is a 53% premium to Mandiant stock prices before the report. Microsoft Corp (NASDAQ:) The company was looking to make a purchase.

The deal would boost Google’s cloud computing company, which is worth more than $19billion annually, but has lost billions each year. It could also help the company compete with larger rival Microsoft Corp.

Mandiant is focused on cybersecurity testing and cyber-incident management.

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