Core Viewpoint - Mitsubishi Electric is acquiring Nozomi Networks for $883 million, aiming to enhance its operational technology security solutions and digital platform capabilities [1][2]. Group 1: Acquisition Details - Mitsubishi Electric currently holds a 7% stake in Nozomi Networks and plans to fully acquire the company in a deal valued at $883 million [1]. - The acquisition will be executed through a reverse triangular merger, with Mitsubishi Electric's special purpose vehicle merging with Nozomi Networks [3]. - Shareholders of Nozomi Networks will receive cash consideration for their shares, which will be cancelled and converted into the right to receive the merger consideration, excluding shares already owned by Mitsubishi Electric [3]. Group 2: Strategic Objectives - The integration of Nozomi Networks' advanced technologies is expected to accelerate Mitsubishi Electric's Serendie digital platform and facilitate the co-creation of new services with customers [2]. - Nozomi Networks, established in 2016, has over 300 employees and is headquartered in San Francisco, California [2]. Group 3: Related Collaborations - In February, Mitsubishi Electric collaborated with HD Renewable Energy to work on projects aimed at achieving carbon neutrality, which includes acquiring a stake in HD Renewable Energy [4][5]. - The joint venture will focus on the development and management of solar power and battery storage systems, as well as electricity retailing [5].