Google’s offer of $23 per share represents a 53 percent premium to Mandiant’s stock price before a report that Microsoft Corp was considering a buyout. As its cloud business grows, Alphabet Inc’s Google announced on 8th March that it would buy cybersecurity firm Mandiant Inc for $5.4 billion in cash.
By boosting its cloud computing division, which makes more than $19 billion in annual revenue but has been losing billions of dollars, an acquisition may help Google compete with bigger rival Microsoft Corp.
Mandiant is a cybersecurity organization that focuses on incident response and testing in the event of a cyber-attack.
“The sophistication and severity of assaults that were formerly employed to target big countries are now being used to target firms in every industry,” said Thomas Kurian, CEO of Google Cloud.