Nozomi Networks, a supplier of operational technology, IoT and cyber-physical systems security, and Mitsubishi Electric Corporation, an electrical equipment manufacturing company, have signed a definitive agreement whereby Mitsubishi Electric will acquire Nozomi Networks. At the close of the agreement, Nozomi Networks will be a wholly owned subsidiary, operating independently of Mitsubishi Electric.
Mitsubishi Electric participated in Nozomi’s $100M Series E funding round, announced in March 2024, and the two companies have collaborated on innovation and go-to-market since. The companies say this combined history informed the foundation of this transaction.
The acquisition of Nozomi Networks brings Mitsubishi Electric an AI-powered, cloud-first cybersecurity software business. In announcing the acquisition, the companies noted that they “share a strong vision around the power of data and context from OT/IoT environments, paired with robust artificial intelligence to deliver more effective cyber defenses and material operational improvements for customers.”
Nozomi Networks will maintain its brand, leadership, teams and operations, with “no disruptions to current operations, roadmaps or partnerships” the companies say. “Nozomi’s teams, offices and points of contact remain unchanged,” with Nozomi’s headquarters remaining in San Francisco, Calif., and its research and development operations in Mendrisio, Switzerland.
The acquisition is expected to close in the fourth calendar quarter of 2025.
