Google agrees to buy Mandiant for $5.4B in all cash deal
Sean Gallup/Getty Images News

Google (NASDAQ:GOOGL) agreed to buy cybersecurity firm Mandiant Inc. (NASDAQ:MNDT) for $23/share in cash. Mandiant fell 4% in premarket trading after jumping 16% on Monday.
The price represents a 57% premium to the10-day trailing volume weighted average price as of Feb. 7, the last full trading day prior to market speculation about potential sale, according to a statement. The deal includes Mandiant's cash. Upon close of the transaction, Mandiant will join Google cloud.
The announcement confirms a story from Monday that Google was in talks to buy Mandiant. Google (GOOGL) was competing with Microsoft (NASDAQ:MSFT) for the cybersecurity firm, though it reportedly walked away from the deal.
The acquisition is expected to close later this year. Goldman Sachs is acting as exclusive financial advisor, and Wilson Sonsini Goodrich & Rosati P.C. is acting as legal advisor to Mandiant.
Mandiant's (MNDT) investor day was scheduled for Thursday.
Last year, FireEye was rebranded as Mandiant and now has a market value of $4.5B. The corporate name change came after the company announced in June it was selling its software business and FireEye name to a Symphony Technology Group-led consortium for $1.2B in cash.