FireEye has agreed to provide its FireEye Products and solutions company and model identify to a non-public fairness firm in a offer that will see the Mandiant business enterprise it bought a number of several years ago come to be a standalone firm once more.
The $1.2 billion all-income sale to a consortium led by Symphony Technology Team (STG) is envisioned to shut by the close of Q4 2021.
It will see STG purchase FireEye’s network, email, endpoint and cloud security goods — together with its linked security management and orchestration platform.
Following its acquisition by FireEye in 2014, Mandiant and founder Kevin Mandia were instrumental in increasing the new company’s focus from web, email and facts centre security to risk intelligence and incident reaction products and services.
In excess of the intervening several years, the company has been occupied working with the aftermath of a great number of breaches at significant-title companies and federal government corporations.
FireEye’s perform investigating an audacious attack on its own methods uncovered the notorious SolarWinds attacks, which subsequently located that at the very least 9 US government companies were being compromised.
FireEye CEO, Kevin Mandia, argued that the separation of the two firms again would enable the large-progress Mandiant to thrive.
“After closing, we will be able to focus exclusively on scaling our intelligence and frontline experience by the Mandiant Advantage system, although the FireEye Merchandise company will be ready to prioritize investment on its cloud-initially security products portfolio,” he additional.
“STG’s aim on fueling ground breaking sector leaders in software and cybersecurity helps make them an best spouse for FireEye Solutions. We glance forward to our connection and collaboration on danger intelligence and skills.”
William Chisholm, handling partner at STG, argued that FireEye’s cloud-1st XDR platform would enjoy a mission-critical position for existing and potential clients.
“We consider that there is great untapped chance for the organization that we are excited to crystallize by leveraging our substantial security software sector encounter and our industry top carve-out abilities,” he stated.
The private equity firm in March agreed to obtain McAfee’s enterprise business for $4 billion.
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