Nozomi Networks and Mitsubishi Electric have signed a definitive agreement whereby the latter will acquire the former at about US1 billion. The amount covers $883 million in purchase and shares of stock that Mitsubishi Electric acquired earlier.
Upon close, Nozomi Networks will be a wholly owned subsidiary, operating independently of Mitsubishi Electric. This acquisition accelerates Nozomi’s industrial cybersecurity innovation while maintaining the company’s heterogeneous approach to supporting customers and partners.
Mitsubishi Electric participated in Nozomi’s $100 millioin Series E funding round, announced in March 2024. The two companies have collaborated on innovation and go-to-market since. This combined history informed the foundation of this transaction.
With more than 100 years of global industrial operational technology (OT and IoT) experience, Mitsubishi Electric will support Nozomi’s continued cybersecurity innovation and business growth, as well as enable both companies to accelerate digital transformation for critical infrastructure and industrial organisations worldwide.
There will be no disruptions to current operations, roadmaps, or partnerships. Nozomi’s teams, offices, and points of contact remain unchanged, ensuring a seamless experience for all its stakeholders.
Satoshi Takeda, who is SVP, CDP and CIO at Mitsubishi Electric, said 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,” said Takeda.
“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,” said Edgard Capdevielle, President and CEO of Nozomi Networks.
The acquisition is expected to close in the fourth calendar quarter of 2025. Upon close, Nozomi will maintain headquarters in San Francisco, California, and research and development in Mendrisio, Switzerland.
