PING - Google's deal for Mandiant 'shot across the bow' to Microsoft Amazon: Wedbush
Google's (GOOG, GOOGL) purchase of Mandiant (NASDAQ:MNDT) for $5.4 billion is likely to be a "major ripple" in the cyber security space and result in more mergers, Wedbush Securities wrote in an investment note. Analyst Dan Ives noted that Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT) are likely to be "pressured into M&A" and continue to add to their cloud platforms, with Varonis (NASDAQ:VRNS), Tenable (NYSE:TEN), CyberArk (NASDAQ:CYBR), Qualys (NASDAQ:QLYS), Rapid7 (NASDAQ:RPD), SailPoint (NYSE:SAIL) and Ping (NYSE:PING) as potential acquisition candidates. "In a massive growth backdrop for cyber security and further tailwinds seen during this Ukraine invasion from Russia bad actors/nation state attacks, we believe today's deal is the tip of the iceberg to a massive phase of consolidation potentially ahead for the cloud space," Ives wrote in a note to clients. "In a nutshell this deal was a shot across the bow from Google to Microsoft and Amazon with this flagship
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Google's deal for Mandiant 'shot across the bow' to Microsoft, Amazon: Wedbush