Google LLC - Mandiant, Inc.

Acquirer(s)

  • Google LLC

Target(s)

  • Mandiant Inc.

Summary

On 7 March 2022, Google LLC (Google) announced its intention to acquire all of the issued shares in Mandiant, Inc. (Mandiant).  

Google supplies software and internet-based products globally and in Australia. Mandiant provides cybersecurity consulting services and other internet security products such as software and managed services globally and in Australia. Both parties are listed on the NASDAQ Stock Exchange.

Market definition

The ACCC considered the impact of the proposed acquisition in markets for the supply of:

  • Cybersecurity consulting and incident response services
  • Cybersecurity software and managed services
  • Cloud infrastructure and platforms

The ACCC did not reach a concluded view on the precise definitions of these markets, as it would not significantly alter the assessment.

Competition analysis

The ACCC concluded that the proposed acquisition is not likely to substantially lessen competition in any market in Australia.

Mandiant is primarily active in the provision of incident response services, which Google does not offer. 

While Google and Mandiant both offer a range of other cybersecurity products, the ACCC concluded that Google and Mandiant are not close competitors and there are a range of alternative suppliers that would continue to constrain Google post-acquisition.

The ACCC also considered whether Google would have the ability and incentive to engage in conduct that could foreclose rival Cloud or cybersecurity providers post-acquisition. The ACCC found that foreclosure was unlikely to occur due to the existence of alternative suppliers.

Market inquiries

Document title Date

Timeline

DateEvent
24/06/2022ACCC commenced informal review under the Informal Merger Review Process Guidelines.
18/07/2022Closing date for submissions.
10/08/2022Former provisional date for announcement of findings 15 September 2022 brought forward.
11/08/2022ACCC announced it would not oppose the proposed acquisition.