Street Calls of the Week
Investing.com -- Mitsubishi Electric announced Tuesday it will acquire all shares of Nozomi Networks, a US-based developer of operational technology (OT) security solutions, in a deal valued at $883 million for the remaining 93% stake.
The Japanese company, which already owns 7% of Nozomi following an investment in 2024, expects to complete the transaction by the end of 2025.
Nozomi Networks specializes in cybersecurity solutions for operational technology systems in critical infrastructure sectors including power grids, railways, oil and gas, pharmaceuticals, and mining. The company’s technology provides real-time monitoring, threat detection, and vulnerability management through data collection, visualization, and analysis.
The US firm reported sales of $75 million for the fiscal year ending December 2024, achieving a compound annual growth rate of 33% between fiscal 2022 and fiscal 2024.
Mitsubishi Electric plans to use the acquisition to expand its data-driven solutions and strengthen security functions in its factory automation components, including sequencers.
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