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Google finally talked about acquiring Mandiant — here’s what they said

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The Google (The GoogleAnd the The Google) finally announced its massive $5.4 billion acquisition of cybersecurity company Mandiant, expressing the extent of the company’s ambitions in this sector.

The huge deal was about boosting Google’s capabilities in detecting cyber threats — something Mandiant was best known for, Google Cloud’s head of information security, Phil Venables, said at a press conference yesterday.

“I want to stress that this adds more intelligence on threats on the front lines,” Venables said. “When you look at what we have at Google, which includes very complementary things from VirusTotal and our other threat intelligence capabilities, the combination of that really gives us this kind of end-to-end security process. Again, Google Cloud is really powerful when we think about how we analyze and put the data In its context, this only gets stronger with the Mandiant.”

response to a changing environment

Venables was pretty clear that Google Cloud’s cybersecurity ambitions are huge, but on some level, the size of the deal really said it all. This acquisition is Google’s second largest ever, only being surpassed by Motorola’s $12.5 billion acquisition ten years ago. The more than $5 billion the company spent on Mandiant overshadows what Google paid Fitbit, which it bought for $2.1 billion.

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The timing of this deal was also no accident – it is in response to a changing environment. The cyber threat landscape is rapidly evolving and expanding and there are two main reasons for this, according to Hari Ravichandran, CEO and founder of identity protection firm Ora.

The Google logo appears on a smartphone in front of the Mandiant logo in this illustration taken on March 8, 2022. REUTERS / Dado Ruvic / Illustration

First, we’re more connected than we’ve ever been. Whether you are talking about the institution or the American home, every system is connected to the Internet and therefore open to cybercriminals. Second, cybercriminals are more sophisticated than ever. With access to the same tools, from the cloud to artificial intelligence, that have transformed the enterprise, professional cybercriminals can create attacks that can fool and bypass even the most diligent of organizations or consumers.

seen as a positive sign

Andrew Rubin, CEO and co-founder of Illumio, said the deal was essentially a positive sign that one of Big Tech’s most recognizable names is taking the increasingly risky cyber landscape seriously. A cybersecurity company focused on trust.

Google Cloud’s online focus shows that security is a top priority for their business as a whole,” he told Yahoo Finance. It is promising to see industry giants commit to this method of protecting cloud environments from today’s evolving threats. “

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Nor is it a coincidence that the deal coincided with Google’s increased commitment to its corporate and cloud customers. The truth is that the more secure your business is, the more valuable it is, said Ritu Bhargava, President and Chief Product Officer of SAP CX/CRM.

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“Now it is no longer negotiable for any organization to have security and compliance as their top priority,” she said. “Businesses will not have a seat at the table if they do not think about security first because it is a business necessity.”

Experts agree: If Google wants to build its cloud business, a threefold increase in security is essential.

“An organization is only as safe as its least secure employees,” said Ravichandran.

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Possibility of more deals

Ravichandran said the field of cyber security is generally a deal-heavy area, so looking into the future, we are likely to see big tech companies, investors and private companies make more deals in the sector.

“Historically, we have seen fairly regular mergers and acquisitions in the cybersecurity industry,” he said. “In September alone, there were nearly 40 cybersecurity companies takeovers, indicating that there are still plenty of opportunities when companies determine a strategic fit.”

Robin agrees, adding that these deals will only grow in importance as cybersecurity becomes an increasingly indispensable part of business strategies and prospects.

“The Google and Mandiant deal is the latest in a series of high-profile cybersecurity acquisitions over the past few years, and certainly won’t be the last,” he told Yahoo Finance. “If Google is willing to go ahead with ‘everything’ on the internet, its customers clearly believe that security is key. everything. “

Allie Garfinkle is a senior technical reporter at Yahoo Finance. Follow her on Twitter at Tweet embed.

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Clashes over FTX’s bankruptcy become global

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Disputes are raging around the world over who controls the company’s insolvent funds and crypto assets

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Bitcoin plunges 70% on Standard Chartered’s list of potential disruptions for 2023

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(Bloomberg) — Speculators clinging to the view that the cryptocurrency’s path is over are mostly at risk of a rude awakening in 2023, according to Standard Chartered Bank.

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Another “surprising” scenario that markets could be “underpriced,” Eric Robertson, the bank’s global head of research, wrote in a note Sunday, another bitcoin drop of about 70% to $5,000 next year.

Robertson said demand could shift from bitcoin as a digital version of gold to real gold, leading to a 30% rally in the yellow metal.

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Robertson added that this likely outcome includes a reversal in higher interest rates as economies struggle, more bankruptcies and a collapse in investor confidence in digital assets.

He stressed that he was not making predictions but instead summarizing scenarios that are materially outside the current market consensus.

Arguably, the question of what lies ahead for digital assets wasn’t difficult to answer after the collapse of Sam Bankman-Fried’s FTX exchange and sister trading house Alameda Research. The spreading tremors from the explosion threaten to bring down more crypto companies and token prices.

For some, much of the bad news may already be reflected in the more than 60% drop in bitcoin and a scale of the top 100 tokens over the past year.

“Our bottom line is that most of the forced selling is over, but investors may not be compensated for the market risk incurred in the near term,” Sean Farrell, Fundstrat’s head of digital asset strategy, wrote in a note on Friday.

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Farrell pointed to the ongoing uncertainty surrounding Digital Currency Group, the parent company of beleaguered crypto brokerage Genesis. Genesis creditors are looking at options to try to prevent the brokerage from falling into bankruptcy.

gold forecast

Robertson of Standard Chartered said that a surprising market scenario of gold rallying as cryptocurrencies decline could see the precious metal measure at $2,250 an ounce.

“Gold will benefit from cryptocurrency woes going forward, with the sudden downturn in confidence in the cryptocurrency ecosystem,” said Nicholas Vrabel, global head of institutional markets at ABC Refinery in Sydney.

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The cryptocurrency sector continues to shrink. For example, digital asset exchange Bybit plans to cut its workforce by 30%, the latest in a series of layoffs to hit the industry.

There could be more pain ahead: About 94% of respondents to Bloomberg’s MLIV Pulse survey believe more blowouts will follow FTX’s bankruptcy as years of easy credit give way to a tougher business and market environment.

Bitcoin at the moment is fairly stable. The largest virtual currency was up 1.8% on Monday and was trading at a three-week high of $17,340 as of 2:35pm in Tokyo. It also gained codes like Ether, Solana, and Polkadot.

For crypto market prices: CRYP; For the most important cryptocurrency news: TOP CRYPTO.

–Assisted by Sing Yee Ong.

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Dollar falls as easing of restrictions in China boosts risk sentiment By Reuters

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© Reuters. FILE PHOTO: One hundred US dollar banknotes are seen in this illustration taken in Seoul on February 7, 2011. REUTERS/Lee Jae-won/File Photo

SINGAPORE (Reuters) – The dollar fell broadly on Monday after a rough week, weakening below 7 yuan as sentiment towards riskier non-dollar assets improved after signs of China easing some coronavirus-related restrictions.

More Chinese cities, including financial hub Shanghai and Urumqi in the far west, announced easing coronavirus restrictions over the weekend as China tries to soften its stance on COVID-19 restrictions in the wake of unprecedented protests against the policy.

“They may seem like small steps, but nonetheless they are a strong sign that China is taking measured steps toward reopening,” said Christopher Wong, currency analyst at OCBC.

China is preparing to announce soon easing nationwide testing requirements, as well as allowing positive cases and close contacts to isolate at home under certain conditions, people familiar with the matter told Reuters last week.

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The dollar fell below 7.0 yuan in foreign trade, while it jumped about 1.4% to 6.9507 on Monday morning, the strongest level since Sept. 13.

The euro, which measures the currency against six major peers including the yen and the euro, fell 0.18% to 104.28, its lowest since June 28.

The index fell 1.4% last week, capping a 5% decline for November, its worst month since 2010, on mounting expectations that the Federal Reserve is ready to scale back interest rate hikes after four consecutive 75-bps. Points increase.

Investors’ focus will be on US consumer price inflation data due on December 13, a day before the Federal Reserve wraps up its two-day policy meeting.

The US central bank is expected to raise interest rates by an additional 50 basis points at the meeting. Fed fund futures traders are now pricing the Fed’s benchmark rate to a peak of 4.92% in May.

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OCBC’s Wong said some degree of caution is still warranted because the Fed is not done tightening. “They’re still tightening up, it’s just that it’s going to be in baby steps.”

Traders appeared to be looking beyond the stronger-than-expected US jobs report for November on Friday after some Federal Reserve speakers calmed market concerns.

“We’ve blown past the US payrolls with a temporary jolt to risk markets,” said Chris Weston, head of research at Pepperstone, noting that the data supports the “soft landing” argument and is unlikely to change the Fed’s course.

Meanwhile, the Japanese yen was down 0.04% against the dollar at 134.37 per dollar, after rising 3.5% last week, off October’s low of 151.94.

The euro rose 0.38% to $1.0578, after rising 1.3% last week. It had earlier touched its highest level in more than five months at $1.05835.

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The pound rose to $1.23450, the highest level since June 17, and was last trading at $1.2339, up 0.42%.

The Australian dollar rose 0.75% to $0.684, while it rose 0.31% to $0.643.

================================================== == ======

The currency bid prices are at 0520 GMT

Description RIC Last US Close Pct Change YTD Pct High Bid Low Bid

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previous change

session

EUR/USD 1.0580 $1.0541 +0.37% -6.94% +1.0584 +1.0512

USD/JPY 134.3800 134.2950 +0.00% +16.75% +134.7600 +134.2800

EUR/JPY 142.18 141.53 +0.46% +9.10% +142.2200 +141.5700

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USD/CHF 0.9349 0.9368 -0.19% +2.51% +0.9393 +0.9344

GBP/USD 1.2337 1.2293 +0.37% -8.76% +1.2343 +1.2251

USD/CAD 1.3401 1.3474 -0.54% +5.99% +1.3473 +1.3386

AUD/USD 0.6841 0.6794 +0.63% -5.94% +0.6851 +0.6764

NZ 0.6429 0.6413 +0.27% -6.06% +0.6442 +0.6367

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Tokyo forex market information from Bank of Japan

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