Mitsubishi Electric has signed a $1.5 billion deal to acquire industrial cybersecurity company Nozomi Networks.
Nozomi Networks will become a wholly owned subsidiary of Mitsubishi Electric, but will continue to operate independently.
Mitsubishi has previously backed Nozomi. In March 2024, it participated in Nozomi’s $100 million Series E funding round, and the two companies have reportedly collaborated on innovation and go-to-market since.
The acquisition is expected to give Mitsubishi an AI-powered, cloud-first cybersecurity software business that can accelerate digital transformation for critical infrastructure and industrial organisations globally.
“By combining Mitsubishi Electric’s century of global industrial expertise with Nozomi Networks’ innovations in data science, AI/ML and industrial cybersecurity, we have 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,” Nozomi Networks co-founder and chief product officer Andrea Carcano says.
The cybersecurity company emphasised that its acquisition will not bring about any changes at an operational or management level for the business and its customers.
Nozomi said it will maintain its brand, leadership, teams and current operational structure. There will be no disruptions to existing partnerships, and its teams, offices and points of contact will also remain unchanged.
“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,” says Mitsubishi Electric senior vice president, CDO and chief information officer Satoshi Takeda, who is also a board member at Mitsubishi Electric Corporation.
“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.”
The acquisition is expected to close in the fourth quarter of 2025. Nozomi will maintain its headquarters in San Francisco, California, with a research and development facility located in Mendrisio, Switzerland.
