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Dive Summary:
- Google’s deal to acquire cybersecurity firm Mandiant cleared a key hurdle last week after the Justice Department granted an early end to the waiting period under the Hart-Scott-Rodino Act, according to a filing with the Securities and Exchange Commission Monday.
- Mandiant reached an agreement in March to be acquired by Google, in a transaction valued at $5.4 billion, or $23 per share. Mandiant and Google have submitted the required documents to the DOJ and the Federal Trade Commission, but the DOJ in late April asked each company to submit additional documents.
- The transaction still has additional regulatory requirements, including certain foreign entity approvals and other closing conditions. Mandiant and Google still expect the deal to close by the end of 2022, according to the filing.
Overview of the dive:
The acquisition of Mandiant would mark the last cybersecurity deal for Google.
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Google announced a agreement at the beginning of January to buy Siemplify, a security orchestration, automation and response (SOAR) technology provider.
Google has entered into talks to buy Mandiant after Microsoft ended talks to buy the cybersecurity company, which was looking for a new partner after selling its FireEye products business in a $1.2 billion deal with Symphony Technology Group in 2021.
Google plans to integrate Mandiant into its Google Cloud business.