- Advertisement -spot_img
Wednesday, August 10, 2022

Google-Mandient deal closes as US Justice Department ends antitrust investigation

The historic Google-Mandiant merger is now one step closer to reality.

In a new filing with the US Securities and Exchange Commission, Mandiant, which Google is seeking to acquire for US$5.4 billion to boost its cloud security currency, said the Justice Department had taken its antitrust investigation into effect without objection. manner terminated. move the deal forward.

“On July 15, 2022, the DOJ permitted the early termination of the waiting period under the HSR Act with respect to the merger,” Mandient’s filing said, referring to the Hart-Scott-Rodino Antitrust Improvement Act.

“Early termination of the waiting period under the HSR Act fulfills one of the conditions for the termination of the merger.”

CRN Pipeline 2022

Join Australia’s most influential channel partners in CRN Pipeline 2022 to reconnect after two extraordinary years of transformation!

Register to participate

Mandient’s filing concluded: “Mandient and Google expect the merger to conclude by the end of 2022.”

Google and Mandiant, considered an incident and response superstar in the cybersecurity world, have consistently expressed confidence that their deal will receive all necessary regulatory approvals, with the deal closing later this year.

But some observers became a little concerned in May, when the Fed requested more information from companies, indicating that regulators were conducting more than one credible adversarial review of the proposed transaction, as reported by The Register at the time. .

But the DOJ’s action appears to put to rest antitrust concerns – and a potential explosion of mergers -.

Representatives for Mandient and Google could not be reached for comment.

According to the National Law Review, the Federal Trade Commission and the DOJ are authorized to quickly end a mandatory waiting period under the HSR Act “after determining that no additional information is necessary and the transaction causes significant competitive concerns.” Doesn’t make it.”

In this case, that means a big Google-mandated cybersecurity deal could go as planned.

The March announcement that Google planned to buy Mandiant this past winter was the talk of the tech world, as many believed Microsoft was probably the first in line to buy Mandiant.

Microsoft eyed an acquisition of Mandient but later pulled out of talks after concluding the merger with Mandient, according to published reports, would not be a good fit.

Google eventually agreed to pay US$23 a share for Mandiant, a 57 percent premium to Mandiant’s weighted multi-day share price before acquisition speculation last winter.

Google has made it clear that it wants Mandient to enhance its cloud security, among other things.

“The Mandient brand is synonymous with unmatched insight for organizations seeking to protect themselves in an ever-changing environment,” Google Cloud CEO Thomas Kurian said in a statement after the merger was announced in March.

“Together we can make a profound impact in securing the cloud, accelerating the adoption of cloud computing, and ultimately making the world safer.”

This article was originally published on crn.com

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
Latest news
Related news
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here