FireEye Announces Sale of FireEye Merchandise Enterprise to Symphony Know-how Team for $1.2 Billion

MILPITAS, Calif.–(Enterprise WIRE)–FireEye, Inc. (NASDAQ: FEYE) nowadays announced it has entered into a definitive agreement to promote the FireEye Goods company, like the FireEye title, to a consortium led by Symphony Engineering Team (STG) in an all-money transaction for $1.2 billion, prior to taxes and transaction-similar costs.

The transaction is envisioned to shut by the close of the fourth quarter of 2021, topic to customary regulatory approvals and closing situations, and will separate FireEye’s network, e mail, endpoint, and cloud protection goods, alongside with the linked safety management and orchestration system, from Mandiant’s controls-agnostic computer software and companies, enabling the two organizations to accelerate advancement investments, pursue new go-to-current market pathways, and target innovation on their respective answers. The FireEye Items company and Mandiant Methods will carry on to function as a single entity right up until the transaction closes, allowing for administration and STG to establish a successful changeover of the FireEye Items business enterprise to a standalone entity inside of the STG portfolio.

The Organization is fully commited to making and preserving a potent partnership and at closing will enter into agreements designed to maximize the positive aspects for joint clients. These agreements include things like a reseller and marketplace cooperation agreement, a strategic collaboration agreement, and a changeover solutions agreement. Customers and partners can anticipate to obtain the whole advantage of these agreements as the firms share technological know-how, telemetry, risk intelligence, and knowledge.

“We believe that this separation will unlock our large-progress Mandiant Options enterprise and allow both companies to far better serve shoppers,” claimed FireEye Chief Executive Officer Kevin Mandia. “After closing, we will be equipped to concentrate solely on scaling our intelligence and frontline know-how through the Mandiant Edge system, although the FireEye Products business will be capable to prioritize expenditure on its cloud-initially stability merchandise portfolio. STG’s aim on fueling ground breaking marketplace leaders in application and cybersecurity can make them an suitable spouse for FireEye Solutions. We seem ahead to our partnership and collaboration on risk intelligence and expertise.”

“We are incredibly amazed by the FireEye Merchandise company and the mission significant purpose it plays for its buyers,” mentioned William Chisholm, Controlling Associate at STG. “We believe that that there is great untapped option for the enterprise that we are fired up to crystallize by leveraging our significant protection computer software sector encounter and our marketplace major carve-out abilities.”

Mandiant Solutions has set up its placement as the marketplace leader in threat intelligence and cybersecurity experience from the entrance strains, serving enterprises, governments and regulation enforcement agencies around the globe. With a mission of building each and every business protected from cyber threats, Mandiant is scaling its intelligence and expertise through the open Mandiant Advantage SaaS platform. With Mandiant Advantage, buyers of all dimensions can entry the most current danger intelligence from the entrance strains, automate warn investigation and prioritization, and validate the efficiency of security controls merchandise from any seller.

FireEye pioneered the state-of-the-art risk detection market place with the introduction of its Multi-Vector Execution (MVX) motor for network stability. Given that then, FireEye has continuously innovated to advance its detection and prevention systems by way of machine-learning and highly developed analytics though extending across community, e-mail, endpoint, and cloud protection merchandise, and the connected stability administration and orchestration system. These days, FireEye’s clever, cloud-initial XDR platform provides unmatched detection, protection, and response for much more than 50 per cent of the Forbes Global 2000.

Goldman Sachs & Co. LLC is serving as monetary advisor, and Wilson Sonsini Goodrich & Rosati P.C. is performing as lawful advisor, to FireEye.

UBS Investment decision Lender and Jefferies LLC are acting as monetary advisors, and Paul Hastings LLP is acting as legal advisor, to STG. UBS Investment decision Financial institution and Jefferies Finance LLC are providing financing for the transaction.

Share Repurchase Program Approved

The company also announced that its Board of Administrators has accredited a share repurchase method for up to $500 million of outstanding FireEye widespread stock.

Repurchases may perhaps be created at management’s discretion from time to time on the open up market, via privately negotiated transactions and by way of Rule 10b5-1 ideas. The repurchase application has no termination day and could be suspended for intervals, amended or discontinued at any time. Any shares acquired will be accessible for typical company applications.

Meeting Contact Data

FireEye will host a meeting get in touch with now, June 2, 2021, at 5 p.m. Eastern time (2 p.m. Pacific time) to explore the transaction. Fascinated parties might access the meeting call by dialing 877-312-5521 (domestic) or 678-894-3048 (global). A stay audio webcast of the connect with can be accessed from the Trader Relations segment of the firm’s internet site at https://traders.fireeye.com. An archived version of the webcast will be offered at the similar internet site shortly immediately after the conclusion of the reside party.

Forward-on the lookout Statements

This push launch consists of forward-seeking statements, together with statements connected to the timing of the completion of the transaction the sum of funds proceeds and the use thereof the effects of the transaction on FireEye’s remaining clients and Mandiant’s controls-agnostic computer software and providers the Company’s capability to speed up growth investments, pursue new go-to-sector pathways, and concentrate innovation on its options its expectations all around the certainty of and timing of closing of the transaction any other statements of expectation or perception and any statements of assumptions fundamental any of the foregoing, as nicely as statements regarding ideas and chances.

These forward-searching statements contain threats and uncertainties, as effectively as assumptions which, if they do not thoroughly materialize or verify incorrect, could cause FireEye’s results to vary materially from individuals expressed or implied by this kind of forward-seeking statements. The hazards and uncertainties that could bring about FireEye’s success to differ materially from all those expressed or implied by these ahead-on the lookout statements involve failure to satisfy any of the problems to the completion of the proposed transaction the incidence of any event, alter or other circumstance that could give increase to the termination of the Asset Order Agreement regardless of whether and when FireEye executes on the stock repurchase, and its ultimate size, which is dependent on a variety of assumptions the impact of the sale of the FireEye assets on the Company’s retained corporations and merchandise retention of current government leadership team members issues in bettering go forward execution and item advancement all through transitions normal small business and financial circumstances fluctuations and volatility in FireEye’s inventory cost the capacity of FireEye to efficiently execute strategic programs the capacity to retain purchaser and companion interactions the capability of FireEye to obtain its price tag and functioning effectiveness aims the predicted progress of selected marketplace segments FireEye’s sales pipeline and enterprise strategy fluctuations in tax costs and foreign currency trade rates the timing and market place acceptance of new merchandise releases and upgrades and the effective improvement of new solutions and the diploma to which these solutions get sector acceptance and typical market place, political, financial, and small business problems, as perfectly as those people hazards and uncertainties included beneath the captions “Risk Factors” and “Management’s Dialogue and Examination of Economic Situation and Outcomes of Operations” in FireEye’s Form 10-Q submitted with the Securities and Trade Fee on April 30, 2021, which really should be study in conjunction with these monetary results and is accessible on the Investor Relations segment of FireEye’s internet site at traders.fireeye.com and on the SEC web site at www.sec.gov.

All ahead-hunting statements in this push launch are primarily based on information and facts obtainable to the organization as of the day hereof, and FireEye does not presume any obligation to update the forward-wanting statements offered to mirror occasions that take place or situation that exist after the date on which they have been designed, other than as essential by legislation. Any upcoming solution, service, feature, or associated specification that may perhaps be referenced in this release is for informational applications only and is not a commitment to produce any supplying, technologies or improvement. FireEye reserves the ideal to modify long run products or services plans at any time.

About STG

Symphony Technologies Group (STG) is the personal fairness lover to current market major companies in info, computer software, and analytics. The agency brings knowledge, versatility, and assets to make strategic value and unlock the possible of impressive corporations. Partnering to construct shopper-centric, current market profitable portfolio companies, STG makes sustainable foundations for progress that convey benefit to all current and long term stakeholders. The organization is focused to transforming and building exceptional technological innovation businesses in partnership with environment class administration teams. STG’s expansive portfolio has consisted of extra than 35 world providers. For additional facts, you should take a look at www.stgpartners.com.

About FireEye, Inc.

Operating as a seamless, scalable extension of consumer stability functions, FireEye offers a one platform that blends impressive safety systems, country-point out grade menace intelligence, and earth-renowned Mandiant consulting. With this tactic, FireEye removes the complexity and stress of cyber stability for businesses having difficulties to prepare for, prevent, and react to cyber attacks. FireEye has in excess of 10,100 shoppers across 103 countries, which include far more than 50 per cent of the Forbes International 2000.

© 2021 FireEye, Inc. All legal rights reserved. FireEye and Mandiant are registered trademarks or logos of FireEye, Inc. in the United States and other international locations. All other models, products, or support names are or may perhaps be logos or services marks of their respective owners.