Merger and Acquisition

Mandiant Acquisition: Google Finally Acquires Mandiant For $5.4 Billion

Google has completed the acquisition of Mandiant, a publicly-traded American cybersecurity firm, in a $5.4 billion deal.

Published

1 year ago

September 12, 2022

Investors King

Google has completed the acquisition of Mandiant, a publicly-traded American cybersecurity firm, in a $5.4 billion deal.

The leading global tech giant announced in a press release published on its Google Cloud Press Corner on Monday, September 12, 2022.

The new acquisition will see Mandiant operate under the auspices of Google Cloud, though the brand will continue to exist.

“We will retain the Mandiant brand and continue Mandiant’s mission to make every organization secure from cyber threats and confident in their readiness,” Google Cloud CEO Thomas Kurian disclosed.

Google’s promise to would-be customers is that it will keep all its data and infrastructure secure.

This means continually introducing new products to address the ever-changing threat landscape, though it sometimes means acquiring long-established incumbents with the expertise to bolster Google’s security proposition.

And that’s effectively what Google’s getting with Mandiant, giving it a major boost in terms of security data gathering capabilities, not to mention access to hundreds of security personnel.

Google and Mandiant share a long commitment to industry-leading security. Over the past two decades, Google has innovated to build some of the most secure computing systems in the world.

Google Cloud customers and partners benefit from these pioneering security capabilities including world-class threat intelligence, zero trust architecture, and planet-scale analytics for security operations.

Mandiant, which is known for delivering unparalleled frontline expertise and industry-leading threat intelligence, is a proven first responder to the world’s largest cybersecurity incidents.

The cyber security company services, delivered by their team of security and intelligence individuals spread across 22 countries, are widely recognized for helping top enterprises and organizations prepare for and react to cybersecurity incidents.

With this acquisition, Google Cloud and Mandiant will deliver an end-to-end security operations suite with even greater capabilities to support customers across their cloud and on-premise environments.

Up Next

Adobe To Acquire Web-Based Design Platform, Figma in a Deal Worth $20 Billion

Don't Miss

Fidelity Bank Makes Offer to Acquire Union Bank UK

Investors King

Comments

Merger and Acquisition

Dangote Industries Set to Revolutionize Agriculture Industry with Mega Merger, Creating Dangote Foods Plc

Published

1 day ago

September 28, 2023

Samed Olukoya

Dangote Industries Limited has unveiled plans for a merger that will give rise to a formidable entity known as Dangote Foods Plc.

This colossal conglomerate is poised to transform the agriculture industry and enhance food security across the nation.

The merger will combine three subsidiaries of Dangote Industries Limited, including Dangote Sugar Refinery, Dangote Salt, and Dangote Rice, resulting in a diversely profitable mega-company.

The fusion, scheduled for completion by the end of 2023 pending regulatory approvals, promises to yield significant benefits for all stakeholders, notably shareholders.

Dangote Sugar Refinery’s Group Managing Director and CEO, Mr. Ravindra Singhvi, highlighted the merger’s strategic importance, stating its potential to create substantial shareholder value.

The amalgamation will not only generate cost-saving synergies but also expand product offerings and revenue streams.

Dangote Foods Plc is set to become a powerhouse in the market, boasting a wide array of products, including sugar, salt, tomato, and rice, among others. This merger will facilitate broader distribution capabilities and increased operational efficiency through synergy.

The journey towards this monumental merger began when Dangote Sugar Refinery notified the Nigerian Exchange Limited of its intention to merge with NASCON Allied Industries Plc and Dangote Rice Limited, both subsidiaries of Dangote Industries Limited.

This move marks a pivotal moment in the corporate history of Nigeria, with Dangote Industries Limited reaffirming its commitment to driving growth, innovation, and food security for the nation.

As regulatory approvals progress, Dangote Foods Plc is poised to emerge as a prominent player in Nigeria’s agricultural landscape, ultimately paving the way for a brighter and more sustainable future for the country.

Merger and Acquisition

Eni’s Strategic Shift: Nigerian Agip Oil Co. Sold to Oando PLC

Published

4 weeks ago

September 4, 2023

Investors King

Italian energy giant Eni has unveiled its plan to sell its exploration and production subsidiary, Nigerian Agip Oil Co. (NAOC), to indigenous energy solutions provider, Oando PLC.

This strategic move aligns with Eni’s 2023-26 strategy and awaits approval from local and regulatory authorities.

Eni’s decision to divest its onshore assets is driven by various factors, including ongoing oil thefts and spills and a shift towards more focused exploration budgets.

The Nigerian Agip Oil Company primarily operates in onshore oil and gas production and power generation.

It holds interests in four onshore blocks, oil mining licences (OMLs), two onshore exploration leases, and two power plants within Nigeria.

Previously, Eni held a 20% stake in four OMLs, with Oando also having a 20% stake, while the remaining 60% was owned by NNPC E&P.

Production from these assets feeds into the Obiafu-Obrikom plant and the Brass terminal, contributing 24,000 barrels of oil equivalent per day to Eni’s net production in 2022.

Eni further exports a substantial portion of its gas production from these licences to the Nigeria LNG (NLNG) plant, where it maintains a 10.4% interest, with additional gas going to the Okpai plant and another open-cycle plant in Rivers State.

Ongoing efforts in the area include workovers to mitigate mature field decline and the development of new compressors to reduce gas flaring.

NAOC also manages the Okpai 1 and 2 power plants, boasting a combined capacity of 960 MW, along with two onshore exploration areas, OPL 282 and 135, where it holds 90% and 48% stakes, respectively.

Despite this divestment, Eni affirms its commitment to Nigeria through Nigerian Agip Exploration and Agip Energy and Natural Resources, as well as its continued involvement in onshore and offshore assets operated by others. Eni will also retain NAOC’s 5% interest in the Shell Production Development Company joint venture.

Wale Tinubu, CEO of Oando Group, expressed excitement about the deal’s potential to unlock unprecedented opportunities for the Nigerian energy company. This transaction aligns with Oando’s strategy of acquiring, enhancing, appraising, and efficiently developing reserves.

Oando’s acquisition of NAOC includes 40 discovered fields, with 24 currently in production, as well as 12 production stations, 1,490 km of pipelines, and three gas processing plants.

This purchase will significantly bolster Oando’s reserves, increasing them from 503.3 million barrels of oil equivalent (boe) to a formidable 996.2 million boe.

Merger and Acquisition

Access Bank Acquires Standard Chartered’s African Subsidiaries, Expanding its Global Footprint

Published

3 months ago

July 14, 2023

Investors King

Access Bank, a leading Nigerian financial institution, has reached an agreement to acquire Standard Chartered’s subsidiaries in five sub-Saharan African countries.

This strategic deal marks the success of Standard Chartered’s divestment plan announced last year, which aimed to streamline its operations and focus on faster-growing markets in the region.

The subsidiaries to be acquired by Access Bank include those in Angola, Cameroon, Gambia, and Sierra Leone, along with Standard Chartered’s consumer, private, and business banking business in Tanzania. As part of the agreement, Access Bank will assume responsibility for providing uninterrupted banking services to the employees and clients of Standard Chartered’s businesses in these countries.

Standard Chartered’s decision to divest its African subsidiaries aligns with its global strategy, which seeks to enhance operational efficiencies, reduce complexity, and drive scale. By redirecting resources within the Africa and Middle East (AME) region, Standard Chartered aims to capitalize on other areas with substantial growth potential.

The deal signifies a major step forward for Access Bank, solidifying its position as a leading player in the African banking landscape. With recent expansions in Europe and an extensive presence in key trading corridors across Africa, Access Bank is poised to build a robust global franchise.

The acquisition will enable Access Bank to serve as a gateway for payments, investment, and trade within Africa and between Africa and the rest of the world.

The value of the transaction remains undisclosed, and the completion of the deal is expected within the next year, pending regulatory approvals in the respective countries, as well as in Nigeria.

Sunil Kaushal, Standard Chartered’s regional CEO for AME, expressed confidence in the strategic decision, emphasizing the opportunity it provides to reallocate resources to high-growth areas within the region. This move allows Standard Chartered to optimize its operations and further strengthen its position in markets poised for expansion.

Roosevelt Ogbonna, Access Group Managing Director, commented on the acquisition, highlighting the bank’s commitment to bridging the gap between cross-border and domestic transfers across all business segments. With a focus on facilitating seamless transactions and enhancing connectivity, Access Bank aims to foster increased trade and investment within Africa and beyond.