Google agrees to buy cybersecurity firm Mandiant for $5.4 billion

Alphabet Inc’s Google is buying cybersecurity firm Mandiant Inc for $5.4 billion.

Mandiant will strengthen Google’s cloud computing business and bolster its security operations and advisory services, the tech giant said.

Microsoft Corp was also said to be eyeing a buyout of Mandiant.

Google’s offer of $23 per share represents a premium of about 53% to Mandiant’s stock price levels before reports that Microsoft was eyeing a deal.

Mandiant has become a go-to for news organizations and companies for investigating cyberattacks, including recent breaches at News Corp and Nvidia Corp.

The deal is expected to close later this year.

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