Mitsubishi Electric Corporation has finalised its acquisition of Nozomi Networks, an expert in OT, IoT, and cyber-physical system security.
Initially disclosed on 9 September, this acquisition heralds a new era of growth for Nozomi Networks while maintaining its operational independence, vendor-neutral technological advancement, and established marketing partnerships.
Continuing independent operations
As a wholly owned subsidiary, Nozomi Networks will maintain its dedication to supporting the OT/ICS ecosystem with an open and multi-vendor stance, strengthening its role as a trusted ally for critical infrastructure operators globally.
This transition follows a period of significant growth for the company, which surpassed $100 million in annual revenue and counts among its clients major enterprises, including leading firms in oil and gas, pharmaceuticals, utilities, and mining.
Financial momentum and achievements
Nozomi Networks is the first private OT cybersecurity firm to reach sustained cash flowNozomi Networks has distinguished itself as the first privately-held OT cybersecurity firm to achieve sustained cash flow and operational break-even, which underscores its robust business model and the confidence placed in its independent approach.
In 2025, the company reached several milestones, including expanding its workforce by 24% and forging notable partnerships with industry giants such as Schneider Electric, Hitachi Cyber, Nvidia, Dispel, and Xona. It was also recognised on the 2025 Deloitte Technology Fast 500™ list as one of the fastest-growing companies in North America.
Recognition and innovation
The company earned accolades from Fast Company as one of the World's Most Innovative Companies in 2025, and was highlighted as a leader in the Gartner Magic Quadrant for CPS Protection Platforms and the Forrester Wave for IoT Security.
Further, it received the Customers' Choice recognition in Gartner's Voice of the Customer for CPS Protection platforms and was described by Gartner as the company to beat in AI for CPS protection platforms.
Mitsubishi Electric's strategic acquisition
"Mitsubishi Electric acquired Nozomi Networks for the same reasons our customers trust us every day," stated Nozomi Networks CEO Edgard Capdevielle. The acquisition is seen as a testament to Nozomi Networks' proven record of innovation and industry leadership, offering a unique vendor-agnostic approach.
Capdevielle noted that the company, through its new role as an independent subsidiary, aims to continue delivering high-quality solutions and fostering strong relationships.
Advancements in cybersecurity solutions
Nozomi Networks’ AI-powered platform delivers deep asset visibility and risk-based OT/IoT securityNozomi Networks' platform, recognised for its comprehensive asset visibility and risk-based cybersecurity management, integrates AI to transform OT/IoT security measures.
The company has introduced significant platform enhancements, including Arc, a cybersecurity solution for automating threat responses in operational settings, and Vantage IQ, an AI assistant tailored for OT/IoT security teams.
Ongoing commitment to innovation
Nozomi Networks Co-founder and Chief Product Officer Andrea Carcano expressed enthusiasm for the acquisition, viewing it as a catalyst for further global service and innovation in the rapidly shifting OT/IoT cybersecurity sector.
He hinted at significant upcoming innovations planned for 2026, asserting the company's continued leadership role.
Consistent customer focus
Despite the acquisition, Nozomi Networks will preserve its brand, leadership, and operations as an independent subsidiary. It remains committed to offering consistent and seamless service to its stakeholders, ensuring stability in its teams, offices, and points of contact.
Nozomi Networks, the pioneer in OT, IoT and cyber‑physical system security, announced that Mitsubishi Electric Corporation has completed its acquisition of the company. Originally announced on September 9, the transaction marks the start of a new phase of growth for Nozomi Networks while preserving the company’s independent operations, vendor‑neutral technology roadmap, and established go‑to‑market partnerships.
As a wholly owned subsidiary, Nozomi Networks will continue to support the full OT/ICS ecosystem with the same open, multi‑vendor approach that has made it a trusted partner to critical infrastructure operators worldwide.
Financial status
This milestone follows a year of exceptional momentum for Nozomi Networks. The company recently surpassed $100M in annual revenue and now serves many of the world’s largest enterprises, including 5 of the top 10 oil and gas companies, 7 of the top 10 pharmaceutical manufacturers, 7 of the top 10 utilities and 4 of the top 10 mining operations.
Nozomi Networks is also the first privately held OT cybersecurity company to achieve sustained cash flow and break‑even performance - further underscoring the strength of its model, the durability of its platform, and the confidence organisations place in its independent, vendor‑agnostic approach.
Milestones
Other notable milestones the company achieved in 2025 include:
- Significant new and expanded partnerships with global technology leaders including Schneider Electric, Hitachi Cyber, Nvidia, Dispel, and Xona
- 24% employee headcount growth
- Among the fastest growing companies in North America on the 2025 Deloitte Technology Fast 500™
- Named to Fast Company’s World’s Most Innovative Companies 2025 list
- Named a leader in the Gartner Magic Quadrant for CPS Protection Platforms and is a leader in the Forrester Wave for IoT Security, as well as the only recognised Customers' Choice in Gartner's Voice of the Customer for CPS Protection platforms
- Recognised by Gartner as “The Company to Beat for AI in CPS Protection Platforms”
Innovation and leadership
“Mitsubishi Electric acquired Nozomi Networks for the same reasons our customers trust us every day,” said Nozomi Networks CEO Edgard Capdevielle.
“We have a proven track record of innovation and industry leadership and a unique vendor-agnostic approach that is a critical ingredient to our success. We will continue to advance the highest levels of quality and excellence in our platform and relationships that we always have moving forward as an independent subsidiary of Mitsubishi Electric, and we’re excited about the opportunities this brings.”
Cybersecurity solution
This success is underpinned by its market-leading platform, the most complete of any offering on the market. Nozomi Networks platform delivers comprehensive asset visibility, defends all attack surfaces, and helps enterprises evolve to a risk-based cybersecurity management posture. Most notably, Nozomi Networks has embedded AI since its inception, consistently pushing the boundaries of how this technology can transform OT/IoT cybersecurity.
It made several enhancements to its platform in 2025, including the release of its latest version of Arc, the industry’s first cybersecurity solution to safely automate threat response in operational environments, and Vantage IQ, the world’s first private, company-trained AI assistant for OT/IoT security teams.
Foremost in OT/IoT cybersecurity
“This acquisition brings us into a new era of innovation. It positions us to better serve our customers globally and meet the needs of an early majority market and the challenges of a rapidly evolving OT/IoT cybersecurity landscape,” said Nozomi Networks Co-founder and Chief Product Officer Andrea Carcano.
“Nozomi is solidly positioned to extend its stature as the leader in OT/IoT cybersecurity. There is much more ahead for us, with game changing new innovations coming in 2026. We look forward to working with our customers and partners to deliver the best possible solution.”
Business as usual
As an independent subsidiary, Nozomi Networks remains committed to serving all its customers and partners, and maintains its brand, leadership, teams, and operations. Nozomi’s teams, offices, and points of contact remain unchanged, ensuring a seamless experience for all its stakeholders.
