The transaction, worth a total of $1 billion, will see Mitsubishi Electric Corporation (Melco) acquire 93% of the company, as it already owns 7%. will make Nozomi a wholly owned subsidiary of Melco, which had already participated in the $100 million Series E financing round announced in March 2024, which also included CDP Venture Capital with €10 million. Since then, the two companies have worked together on innovation and commercialisation, a collaboration that formed the basis of the transaction.
Planven, a pan-European venture capital firm founded by Giovanni Canetta Roeder (pictured), invests in global companies in the early stages of growth. It was Nozomi Networks’ first investor and its largest shareholder, demonstrating the fund’s long-term commitment and conviction.
“Planven was Nozomi’s first institutional investor and has always been a staunch supporter,” said Canetta Roeder in a statement. “Since our initial investment, we have actively supported the company in every single round of financing. Not only did we support Nozomi with capital, but also with introductions to customers and partners, as well as strategic guidance. Until the closing, Planven remains Nozomi’s largest shareholder. We have always shared its mission with deep conviction and believed in its long-term potential from the very beginning. For us, Nozomi embodied from the outset exactly what Planven has always aimed to do: support European entrepreneurs who aspire to expand globally and become category leaders. As recognised by Gartner and Forrester, Nozomi has successfully created a completely new category in the cybersecurity sector and become its leader. It is important to note that, in addition to its Italian founders, Andrea Carcano and Moreno Carullo, more than 70% of the staff at its research centre in Mendrisio are from Italy. Nozomi therefore demonstrates the profound contribution of Italian talent to the European technology landscape, creating a significant impact both locally and across Europe. In times of market volatility, ensuring resilience and long-term vision is more important than ever. Nozomi embodies this resilience, continuing to grow and lead despite difficult cycles. We are proud to have supported the founders and talented team on this journey. Equally important is our desire to continue investing in companies with these characteristics in Italy and across Europe, as we firmly believe in the value that European innovation brings to the global ecosystem.
The acquisition of Nozomi brings Melco a strong and growing company in the field of artificial intelligence and cloud-based cybersecurity software, with a track record of scalable innovation. With over 100 years of global experience in industrial operational technology (OT and IoT), Melco will support Nozomi’s continued innovation in cybersecurity and its business growth expertise, while also enabling both companies to accelerate the digital transformation of critical infrastructure and industrial organisations worldwide. The companies share a vision of the importance of data and context from OT/IoT environments, combined with robust artificial intelligence to deliver more effective cyber defences and significant operational improvements for customers.
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