Mitsubishi Electric to acquire Nozomi Networks for $883m, boosting OT security

Mitsubishi Electric Corporation is set to acquire the remaining shares of Nozomi Networks Inc. by September 9, 2025, making it a wholly-owned subsidiary. This acquisition, valued at approximately $883 million, aims to significantly enhance Mitsubishi Electric’s OT security business and accelerate the global expansion of its Serendie digital platform. Nozomi Networks, established in 2016, specializes in developing and selling OT security solutions, reporting net revenue of $74,695 thousand in 2024 and a 33% CAGR from 2022-2024.

The transaction, expected to be completed in 2025 following regulatory approvals, will integrate Nozomi's advanced intrusion detection and visualization technologies with Mitsubishi Electric’s OT domain expertise. This strategic move targets an ambitious revenue of 1.1 trillion yen for Serendie-related businesses by fiscal year 2031, leveraging Nozomi's strong customer base across manufacturing, infrastructure, and building sectors.

Mitsubishi Electric previously held a 7.0% stake in Nozomi Networks and had a collaboration agreement since 2024. The acquisition will expand its "One-Stop OT Security Solution" to protect on-site equipment and systems from cyberattacks, reflecting the increasing importance of OT security in the IoT and DX era.