What Happened?
On Tuesday, September 9th, Nozomi Networks and Mitsubishi Electric Corporation announced they had signed a definitive agreement through which Mitsubishi Electric will acquire Nozomi Networks for $883 million. The all cash deal is expected to close later this year, contingent upon standard regulatory approvals. Already a 7% stakeholder via Nozomi’s $100 million Series E funding round in March 2024, Mitsubishi Electric will retain Nozomi as an independent, wholly owned subsidiary when the acquisition is completed.
VDC’s View
The latest in a steady flow of acquisitions that have collectively redefined the competitive landscape in recent years, Mitsubishi Electric’s acquisition of Nozomi Networks follows those by Cisco (Sentryo, 2019), Microsoft (CyberX, 2020), Claroty (Medigate, 2021), Honeywell (SCADAfence, 2023), Rockwell Automation (Verve Industrial Protection, 2023), and Armis (OTORIO, 2025), among others. While the nearly $1 billion price tag (Mitsubishi’s largest acquisition ever) makes this transaction stand out, its implications for market dynamics are likely to be equally profound.
More Insight
How is the convergence of OT, IT, and IoT shaping the industrial cybersecurity market? How do OT cybersecurity vendors help customers address compliance requirements? Which regulatory bodies are most influential in developing industry standards? How have SaaS-based solutions affected this market? VDC will cover these questions and more in its upcoming study on the global market for OT cybersecurity solutions.
Download the full report here.
VDC will cover these questions and more in its upcoming study on the global market for OT cybersecurity solutions. View the Research Outline here.
