FILE PHOTO: A Google logo is seen outside of the Google Store, where visitors can try phones and other products from the company, in New York City, New York, U.S., February 10, 2022. Picture taken February 10, 2022. REUTERS/Paresh Dave
(Reuters) -Alphabet Inc's Google is buying cybersecurity firm Mandiant Inc for $5.4 billion in a deal that could trigger a "ripple effect" as cloud rivals Microsoft and Amazon also ramp up efforts to fortify the fast-growing business.
A shift to remote working during the pandemic, as well as the Russia-Ukraine conflict, has fueled a spike in cyberattacks and bolstered demand for security software, a market expected to more than double to $352.25 billion by 2026 from 2020, according to research firm Mordor Intelligence.
