The move represents a change in strategy for the company, which had previously been keen to acquire other firms to expand its portfolio, including most recently Cloudvisory in January 2020. This was the firm s seventh acquisition, and previously bought the business platform Verodin for $250 million (roughly £190 million) in 2019.
Mandia said the sale of the broader FireEye portfolio to private equity will help to grow the Mandiant Solutions business, which FireEye claims has established its position as the market leader in threat intelligence and security expertise. We believe this separation will unlock our high-growth Mandiant Solutions business and allow both organizations to better serve customers, said Kevin Mandia, chief executive.
FireEye to sell products business — and name — for $1 2 billion to Symphony Technology Group bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
AMC milks the rise in its share price by raising more equity, Medtronic halts sales of its heart device, Delta Air Lines expects to return to profit later this year, FireEye sells its products business, there’s a shake-up to ExxonMobil’s board, and Broadcom is due to release results later.
Another big name buyout by STG
Gareth Corfield Thu 3 Jun 2021 // 12:55 UTC Share
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FireEye has been sold for $1.2bn to the same American private equity fund that bought McAfee’s enterprise security business, severing it from infosec stablemate Mandiant.
The sale to Symphony Technology Group (STG) will see threat intel and incident response business Mandiant return to the market as a standalone operation in Q4 this year, FireEye said in a statement.
“We believe this separation will unlock our high-growth Mandiant Solutions business and allow both organizations to better serve customers,” added FireEye chief exec Kevin Mandia.
FireEye’s product security biz is being transferred to STG, where it will sit alongside McAfee’s enterprise security division, which STG bought for $4bn in March.