Mitsubishi Electric is ready to put a ring on it. Its collaboration with Nozomi Networks, which specializes in cybersecurity for OT, Internet of Things (IoT) and cyber-physical systems, has been expanding for well over a year.
Now, it’s official. Nozomi Networks will become a wholly owned subsidiary, operating independently of Mitsubishi Electric.
"We are excited to welcome Nozomi to the Mitsubishi Electric family,” says Satoshi Takeda, Mitsubishi Electric senior vice president, CDO, chief information officer and board member. “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. 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."
Mitsubishi Electric participated in Nozomi's $100 million Series E funding round in March 2024, and the two companies have collaborated on innovation ever since.
"Mitsubishi Electric purchasing Nozomi Networks signals that OT/IoT capabilities are being valued in the cybersecurity arena, data services and with artificial intelligence," says Tobey Strauch, a controls engineer who wrote about the deepening relationship between Mitsubishi Electric and Nozomi Networks in August 2024. "When traditional hardware companies are expanding OT interface capacity, then you know the importance of data, even in the OT environment. Every machine will be connected. Companies are profiting by doing so."
The acquisition of Nozomi Networks brings an AI-powered, cloud-first cybersecurity software business with scalability to Mitsubishi Electric.
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"This marks an exciting new chapter for Nozomi Networks,” remarks Edgard Capdevielle, president and CEO of Nozomi Networks. “By becoming part of Mitsubishi Electric, we will combine our strengths to drive the next generation of industrial security and innovation to bring additional value for customers around the world.” Capdevielle expects nothing to change in the 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,” he predicts. “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."
With more than 100 years of global industrial operational technology (OT and IoT) experience, Mitsubishi Electric will support Nozomi's continued cybersecurity innovation.
The companies share a vision around the power of data and context from OT/IoT environments, paired with artificial intelligence to deliver cyber defenses.
"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," indicates Andrea Carcano, co-founder and chief product officer of Nozomi Networks.
The acquisition is expected to close Q4 of this year. Nozomi will maintain its headquarters in San Francisco, and research and development in Mendrisio, Switzerland.
