Nozomi Networks Appoints Co-Founder Andrea Carcano As CEO Following $1 Billion Mitsubishi Electric Acquisition
Nozomi Networks has appointed co-founder Andrea Carcano as Chief Executive Officer as the cybersecurity company enters its next phase of growth following its $1 billion acquisition by Mitsubishi Electric.
Carcano returns to the CEO role he held when he founded Nozomi Networks with Chief Technology Officer Moreno Carullo approximately 14 years ago. He succeeds Edgard Capdevielle, who led the company for the past decade and will remain involved as an executive advisor.
The leadership transition is intended to accelerate Nozomi Networks’ technical development and the use of artificial intelligence across operational technology, the Internet of Things, and cyber-physical systems security.
Operational technology, commonly known as OT, includes the systems that control physical equipment and industrial processes. These systems are used across energy, utilities, manufacturing, pharmaceuticals, transportation and other critical infrastructure sectors.
Cyber-physical systems combine software and networking with physical machinery or infrastructure. Protecting these environments can be especially difficult because a cyberattack may affect not only data but also production, equipment availability, public services or physical safety.
Carcano and Carullo founded Nozomi Networks on the belief that industrial operators needed more robust cybersecurity technology. The founders wrote the company’s initial software, secured its first customers and developed the technical foundation of its security platform.
Approximately a decade ago, they recruited Capdevielle to commercialize the technology, build a global go-to-market organization and raise the capital required for the company to compete internationally.
During Capdevielle’s tenure, Nozomi Networks surpassed $100 million in annual revenue and became the first privately held OT cybersecurity company to achieve sustained cash-flow break-even performance, according to the company.
Nozomi Networks also expanded its customer base across major critical infrastructure industries. The company said its customers include five of the world’s 10 largest oil and gas companies, seven of the 10 largest pharmaceutical manufacturers and seven of the 10 largest utilities.
Mitsubishi Electric completed its $1 billion acquisition of Nozomi Networks after the company crossed the $100 million annual revenue threshold. The transaction gives Nozomi access to the resources and industrial reach of a global technology company while maintaining its independent operations and vendor-neutral approach.
Vendor neutrality is important in industrial cybersecurity because customers often operate equipment and software from numerous manufacturers. A security platform that works across these environments can help operators monitor systems without being limited to one hardware or technology provider.
Nozomi Networks said customers and partners will experience continuity during the leadership transition. Existing account teams, customer support commitments, partner programs and the company’s product roadmap will remain unchanged.
As CEO, Carcano will focus on accelerating AI-driven innovation while maintaining Nozomi Networks’ customer and partner relationships.
The company’s platform combines network and endpoint visibility, threat detection and AI-powered analysis to help critical infrastructure operators identify cybersecurity risks and respond to incidents.
Network visibility allows security teams to understand which devices are connected, how they communicate and whether activity deviates from expected operating behavior. Endpoint visibility provides information about individual devices and systems within the environment.
AI can help analyze the large amount of data generated by industrial networks, identify unusual patterns and prioritize activity that may require investigation. These capabilities are becoming more important as attackers also use AI to automate reconnaissance, develop malicious software and increase the speed of cyber operations.
Nozomi Networks believes competition within the OT and IoT cybersecurity market will increasingly depend on how effectively companies apply AI to threat detection, analysis and response.
Carullo said the industry is reaching a point where the pace of AI development among both attackers and defenders could determine which cybersecurity providers establish leadership positions.
The company plans to build on its existing technical foundation while developing additional capabilities for customers protecting industrial facilities and critical infrastructure.
Nozomi Networks has been while developing additional capabilities for customers protecting industrial recognized as a leader in industry evaluations covering cyber-physical systems and IoT security. The company also said Gartner identified it as the company to beat for AI in cyber-physical systems protection platforms.
Carcano’s return to the CEO position places one of Nozomi Networks’ original technical founders at the head of the company as it integrates the benefits of Mitsubishi Electric’s ownership with its existing product strategy.
Capdevielle will support the transition and continue advising the company. He also plans to return his attention to helping earlier-stage businesses develop and commercialize their technologies.
Carcano said Nozomi Networks will continue basing product development, partnerships and hiring decisions on the outcomes required by customers.
The company is headquartered in San Francisco and protects critical infrastructure customers against cyber threats involving industrial networks, connected devices and physical operating environments.
KEY QUOTES:
“Edgard has been an extraordinary partner to Moreno and me for the past decade. On behalf of everyone at Nozomi, thank you, Edgard.”
“Stepping into this role feels like returning to where our story began, only now with the conviction of everything we’ve proven since: category-defining products, the trust of the world’s most critical operators, and market leadership recognized across the industry.”
“Moreno and I built Nozomi side by side from the very first lines of code, and side by side is exactly how we’ll lead its next chapter. This is a new Day 1, the same hunger and audacity that started this company, now with everything it takes to win at the largest scale.”
“Our commitment to our customers and partners doesn’t change today. Everything we do, every product decision, every collaboration, every hire, starts with the outcomes our customers need, and that will be as true a decade from now as it is today.”
Andrea Carcano, Co-Founder and CEO of Nozomi Networks
“This is the moment our industry has been building toward, where the pace of AI on both sides, attacker and defender, decides who leads.”
“The joy of building what nobody has built before is why Andrea and I started this company, and it’s exactly what this next chapter is about.”
Moreno Carullo, Co-Founder and CTO of Nozomi Networks
“Leading Nozomi through this stage of its journey has been the honor of my career. Andrea and Moreno built something extraordinary, and I’m proud of what we accomplished together.”
“I’m looking forward to continuing to support the team as an advisor while returning to what I love most, helping early-stage companies find their way. Nozomi’s best chapter is the one that starts today.”
Edgard Capdevielle, Executive Advisor at Nozomi Networks
