Nozomi Networks To Be Acquired By Mitsubishi Electric At $1B Valuation

The 12-year-old vendor has been a trailblazer in the area of industrial security, CEO Edgard Capdevielle told CRN previously.

Nozomi Networks announced Tuesday it has reached an agreement to be acquired by Mitsubishi Electric, in a deal that values the OT security vendor at roughly $1 billion.

Mitsubishi Electric had previously owned a stake in Nozomi in connection with a 2024 funding round. The acquisition deal announced Tuesday includes $883 million in cash from Mitsubishi Electric to buy the remaining shares, for a total deal valuation of roughly $1 billion, Nozomi said in an email to CRN.

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Founded in 2013, Nozomi Networks was “one of the early pioneers” in industrial and IoT security, Nozomi CEO Edgard Capdevielle (pictured) said in an interview with CRN in 2024.

“I would put the accuracy of our asset discovery and the accuracy of our detection against any one of our competitors,” Capdevielle said at the time.

The company’s platform combines network and endpoint visibility with threat detection and AI-powered analysis to protect critical infrastructure, according to Nozomi.

The vendor has stood out for its ability to provide an OT and IoT security platform in heterogeneous environments with agnosticism for the original equipment manufacturer, Nozomi said previously.

In a news release announcing the acquisition agreement Tuesday, Mitsubishi Electric said that Nozomi Networks will operate independently as a subsidiary after the closing of the deal, which is expected during the fourth quarter of the year.

Notably, both companies share a “partner-first business model,” the companies said in the release.