Mitsubishi Electric announced an agreement to acquire OT security technology company Nozomi Networks. This report analyses the OT security market, the agreed acquisition, and its opportunities and implications.
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The Analyst Team

Hollie Hennessy
Follow AnalystOT/IoT Cybersecurity Lead
Hollie provides insight into the fascinating and fast-moving domain of OT and IoT cybersecurity, covering both cybersecurity and product security across automotive, medical, embedded, and industrial.
Hollie has a range of experience in research. She began her career in the legal sector, writing and researching for expert witness reports on the labor market. She then moved into product testing, with a consumer protection focus. In this role, she was responsible for managing comparative tests of various technology and IoT products, as well as regular testing and investigative work into the security of these devices.

Adam Etherington
Follow AnalystPractice Leader, Cybersecurity
Adam is part of Omdia’s global Digital Enterprise Services practice. He leads international research, advisory, and analysis for cybersecurity and cloud B2B services. A regular speaker at industry events and executive roundtables, Adam thrives on driving deep insight through custom engagements with clients.
Adam joined Omdia in 2020, bringing more than two decades of experience as an executive at some of the world’s largest telecoms and IT services vendors. His experience spans corporate strategy, product marketing, technical operations, market intelligence, sales, and strategic alliance roles. Adam holds a Bachelor of Economics from Macquarie University and an MBA from Deakin University (both in Australia). In 2022, he was awarded the 2021 Brookes Medal for outstanding academic achievement.

Matthew Ball
Follow AnalystChief Analyst
Matthew Ball leads the Cybersecurity Ecosystems and Global IT Opportunity research services at Canalys, now part of Omdia. He delivers strategic insights into the evolving cybersecurity partner landscape, analyzing vendor engagement with MSPs, MSSPs, GSIs, and the transformation of routes to market, including marketplaces. His research spans platform adoption, M&A activity, emerging vendor funding, and the intersection of AI and cybersecurity.
As the lead of the global IT opportunity service, Matthew helps clients quantify addressable market potential, track IT spending trends, and assess macro risks that affect growth and execution. He also leads confidential consultancy projects, contributes to global surveys, and provides tailored guidance to clients worldwide.
A regular speaker at Canalys channels forums, trade shows, and partner summits, Matthew is recognized for his deep industry knowledge and clear strategic thinking. He joined Canalys, now part of Omdia, in 2004, following three years at MZA. He holds an honors degree in geography from the University of Birmingham.
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