Mitsubishi Electric to acquire Nozomi Networks
The acquisition is expected to close in the fourth calendar quarter of 2025 with Nozomi Networks being a wholly owned subsidiary, operating independently of Mitsubishi Electric.
Mitsubishi Electric Corporation will acquire Nozomi Networks for circa US$1 billion. The deal is the largest operational technology (OT) security acquisition in history and will see Nozomi become a wholly owned subsidiary of Mitsubishi Electric.
The deal follows a US$100 million seed funding round last year, in which Mitsubishi was a major investor. Nozomi has a significant presence across Asia-Pacific and A/NZ already, helping to protect the region’s key critical infrastructure providers.
In a media release, Nozomi Networks stated that the acquisition accelerates its industrial cybersecurity innovation while maintaining the company’s heterogeneous approach to supporting customers and partners.
A global leader in OT, IoT and CPS security, Nozomi Networks defends organisations around the world from cyber threats and operational disruption. For Mitsubishi, the acquisition enables the Japanese corporation to have a strong and growing AI-powered, cloud-first cybersecurity software business with an award-winning track record of scalable innovation.
This includes enhancing Mitsubishi’s ability to deliver cutting-edge solutions to customers worldwide. Mitsubishi will support Nozomi’s continued cybersecurity innovation and strong track record of business growth, as well as enable both companies to accelerate digital transformation for critical infrastructure and industrial organizations worldwide.
“We are excited to welcome Nozomi to the Mitsubishi Electric family. Their cutting-edge OT security technology and rapid development philosophy have earned them a strong reputation. By combining Nozomi's strengths with Mitsubishi Electric's extensive expertise and capabilities in OT, I believe we can achieve even more,” Satoshi Takeda, Mitsubishi Electric Senior Vice President, CDO, Chief Information Officer, Board Member at Mitsubishi Electric Corporation commented.
“This acquisition will enable us to co-create valuable new services while supporting Nozomi's commitment to innovation and customer flexibility. Together, we can help our customers achieve their digital transformation goals while enhancing security, efficiency, and resilience,” Takeda added.
For Edgard Capdevielle, President and CEO of Nozomi Networks, by becoming part of Mitsubishi Electric, Nozomi will combine its strengths to drive the next generation of industrial security and innovation to bring additional value for customers around the world.
With the acquisition expected to close in the fourth calendar quarter of 2025, Nozomi Networks stated that it is committed to serving all its customers and partners by maintaining its brand, leadership, teams, and operations. Customers will also not face any disruptions to current operations, roadmaps, or partnerships.
“Nothing will change in our day-to-day engagement with Nozomi customers and partners – they will continue to receive the same support and service, and the same cutting-edge OT and IoT cybersecurity platform they have come to trust. With the combined global reach and resources of both companies, we can supercharge our innovation engine, helping industrial organizations secure and accelerate their own digital transformations,” he added.
Nozomi’s teams, offices, and points of contact remain unchanged, ensuring a seamless experience for all its stakeholders. Upon close, Nozomi will maintain headquarters in San Francisco, California, and research and development in Mendrisio, Switzerland.
Meanwhile, Andrea Carcano, Co-Founder and Chief Product Officer of Nozomi Networks believes the combination of Mitsubishi Electric’s century of global industrial expertise with Nozomi Networks’ innovations in data science, AI/ML and industrial cybersecurity, there will be a unique opportunity to create a new generation of AI-powered solutions that will strengthen cyber and operations through power new innovations for customers across all OT/IoT use cases and industries around the world.
“Together, we’ll make the world’s critical infrastructure safer, more resilient, and more efficient,” Carcano said.