Reston cybersecurity company Mandiant Inc. (NASDAQ: MNDT) said early Tuesday it has reached a deal to sell to Google LLC for $23 per share in an all-cash deal valued at $5.4 billion.
The buy represents the second-largest deal in Google’s history after its 2012 purchase of Motorola Mobility for $12.5 billion.
Mandiant, led by founder and CEO Kevin Mandia, said the sale price is a 57% premium on its shares prior to sale speculation heating up in early February. The deal is expected to close later this year, at which time Mandiant will join Google Cloud, a division of Mountain View, California’s Alphabet Inc. (NASDAQ: GOOGL) that records more than $19 billion in annual revenue.
Google said the purchase will strengthen its detection, intelligence, automation and response as it relates to cyberthreats as well as its advisory services to customers.
In a statement, Google Cloud CEO Thomas Kurian said the deal creates “an opportunity to deliver an end-to-end security operations suite…Read the full story from the Washington Business Journal.