INTELLIGENT BRANDS // Enterprise Security
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FireEye sells FireEye Products business to STG for US $ 1.2 billion
Kevin Mandia , CEO , FireEye
FireEye , has announced it has entered into a definitive agreement to sell the FireEye Products business , including the FireEye name , to a consortium led by Symphony Technology Group ( STG ) in an all-cash transaction for US $ 1.2 billion , before taxes and transaction-related expenses .
The transaction is expected to close by the end of the fourth quarter of 2021 , subject to customary regulatory approvals and closing conditions , and will separate FireEye ’ s network , email , endpoint and cloud security products , along with the related security management and orchestration platform , from Mandiant ’ s controls-agnostic software and services . This will enable both organisations to accelerate growth investments , pursue new go-to-market pathways , and focus innovation on their respective solutions .
“ We believe this separation will unlock our high-growth Mandiant Solutions business and allow both organisations to better serve customers ,” said Kevin Mandia CEO , FireEye . “ After closing , we will be able to concentrate exclusively on scaling our intelligence and frontline expertise through the Mandiant Advantage platform , while the FireEye Products business will be able to prioritise investment on its cloud-first security product portfolio . STG ’ s focus on fuelling innovative market leaders in software and cybersecurity makes them an ideal partner for FireEye Products . We look forward to our relationship and collaboration on threat intelligence and expertise .”
William Chisholm , Managing Partner , STG , said : “ We are extremely impressed by the FireEye Products business and the mission critical role it plays for its customers . We believe that there is enormous untapped opportunity for the business that we are excited to crystalise by leveraging our significant security software sector experience and our market leading carve-out expertise .”
Mandiant Solutions has established its position as the market leader in threat intelligence and cybersecurity expertise from the front lines , serving enterprises , governments and law enforcement agencies worldwide . With a mission of making every organisation secure from cyberthreats , Mandiant is scaling its intelligence and expertise through the open Mandiant Advantage SaaS platform . With Mandiant Advantage , customers of all sizes can access the latest threat intelligence from the front lines , automate alert investigation and prioritisation and validate the effectiveness of security controls products from any vendor .
FireEye pioneered the advanced threat detection market with the introduction of its Multi-Vector Execution ( MVX ) engine for network security . Since then , FireEye has continuously innovated to advance its detection and prevention technologies through machine-learning and advanced analytics while extending across network , email , endpoint , and cloud security products , and the related security management and orchestration platform . Today , FireEye ’ s intelligent , cloud-first XDR platform delivers unmatched detection , protection , and response for more than 50 % of the Forbes Global 2000 . p
The FireEye Products business and Mandiant Solutions will continue to operate as a single entity until the transaction closes , allowing management and STG to develop a successful transition of the FireEye Products business to a standalone entity within the STG portfolio .
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