FireEye providing products organization and name for $1.2 billion

FireEye claimed Wednesday it is offering its merchandise enterprise, together with the FireEye identify, to a consortium led by private-equity organization Symphony Know-how Team for $1.2 billion in income.

The U.S. cybersecurity organization reported the sale will split Mandiant Methods, its cyber forensics device, from its cloud security, community and email items.

Shares of FireEye had been somewhat flat following several hours. The enterprise said the offer is anticipated to close by the finish of the fourth quarter.

FireEye was the subject of a cyberattack in December of very last calendar year, which it believes was condition-sponsored. Microsoft in February credited the firm’s transparency about the breach in supporting it discover that had also been attacked.

FireEye CEO Kevin Mandia said the sale will assist it mature its Mandiant Answers business enterprise.

“Right after closing, we will be capable to focus solely on scaling our intelligence and frontline skills by means of the Mandiant Advantage platform, when the FireEye Items business enterprise will be able to prioritize investment decision on its cloud-very first protection item portfolio,” ongoing Mandia.

The sale is just the most current illustration of a major-dollar tech deal going to non-public equity.

With the exception of specific goal acquisition providers, seven of the 12 premier tech acquisitions in the U.S. in 2021 have been carried out by personal fairness corporations, in accordance to info from FactSet.

In Wednesday’s announcement, FireEye also explained that its board experienced authorized a share buyback program of up to $500 million.