FireEye To Market Solutions Small business To Symphony Technologies Team For $1.2B
2 min readFireEye has agreed market its fledgling products business to Symphony Know-how Team for $1.2 billion, undoing the 2014 acquisition that brought FireEye’s solutions and Mandiant’s providers jointly.
The Milpitas, Calif.-based mostly platform stability seller mentioned its high-growth menace intelligence and incident response products and services small business will continue on to function as a publicly traded organization less than the Mandiant Options banner. In addition to paying for the company’s network, e-mail, endpoint and cloud safety portfolio, private equity organization STG also acquired the FireEye name.
“After closing, we will be in a position to concentrate solely on scaling our intelligence and frontline knowledge by means of the Mandiant Benefit method, when the FireEye Merchandise company will be in a position to prioritize investment decision on its cloud-to start with stability product portfolio,” FireEye CEO Kevin Mandia mentioned in a statement.
[Related: McAfee Enterprise Business To Be Sold To STG For $4B]
STG has moved aggressively into cybersecurity over the past yr, purchasing Bedford, Mass.-based encryption pioneer RSA in September 2020 for $2.08 billion and agreeing in March 2021 to acquire San Jose, Calif.-based mostly McAfee’s company small business for $4 billion. There is significant overlap between the McAfee and FireEye merchandise portfolio, particularly in the network, endpoint, and cloud protection domains.
“We are very amazed by the FireEye Items small business and the mission important function it plays for its consumers,” STG Taking care of Spouse William Chisholm claimed in a statement. “We think there is great untapped opportunity for the organization that we are energized to crystalize by leveraging our significant security computer software sector knowledge and our marketplace major carve-out experience.”
Wednesday’s proposed transaction undoes FireEye’s $1 billion acquisition of Mandiant in January 2014, which introduced with each other community security know-how developed to catch what far more classic firewalls missed with field-major incident response capabilities. Mandia launched Mandiant in 2004, and served as FireEye’s COO for two-and-a-50 % years soon after the deal right before getting to be CEO in June 2016.
FireEye’s inventory is up $.17 (.75 %) to $22.70 in immediately after-hours buying and selling Wednesday. In addition to the company’s position goods, STG will also purchase FireEye’s security management and orchestration system. The sale of FireEye’s products and solutions small business is envisioned to near by the finish of 2021.
Right after the offer closes, FireEye and Mandiant will proceed to share technologies, telemetry, threat intelligence, and know-how by a reseller and industry cooperation agreement, a transition solutions settlement, and a strategic collaboration agreement. FireEye’s goods small business will also gain from superior channel interactions with MSSP suppliers based on alliances with complementary vendors.
FireEye’s product or service, membership and assistance business noticed meager development of 2.2 per cent in 2020, with revenue increasing to $724.9 million from $708.8 million a yr earlier. Conversely, the company’s expert companies organization – which prominently showcases Mandiant’s products and services choices – saw income skyrocket to $215.6 million in 2020, up 19.6 percent from $180.3 million a year earlier.
