Google agreed to buy cybersecurity company Mandiant.
Photo: Jeff Chiu/Associated Press
Alphabet Inc.’s GOOG -4.28% Google LLC unit on Tuesday said it agreed to buy cybersecurity company Mandiant Inc. MNDT 16.05% for $23 a share in an all-cash deal valued at about $5.4 billion, including Mandiant’s net cash.
The purchase price represents a 2.3% premium to Monday’s closing price of $22.49 for Mandiant but is nearly 53% above the Reston, Va., company’s closing price of $15.06 on Feb. 7, before published reports emerged that Microsoft Corp. MSFT -3.78% was circling Mandiant. Google said the acquisition of Mandiant, slated to close later this year, would complement the security strengths of its Google Cloud business.
Shares of Mandiant slipped 3.2% in premarket trading to $21.78.
(More to come)
Write to Colin Kellaher at colin.kellaher@wsj.com
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